Global upstream M&A: H1 2019 review and outlook Report

Insight 09 July 2019

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Global upstream M&A in H1 2019 flattered to deceive. Occidental’s US$53 billion acquisition of Anadarko grabbed the headlines – the stare-down with Chevron, the Omaha connection, the pre-emptive disposal of Africa to Total. But a broader malaise saw global deal flow scrape twenty-year lows. Valuations weakened, with the implied long-term oil price averaging US$57/bbl in H1 2019 (vs. US$64/bbl through 2018).

Global Trends
- Valuations
Regional review and outlook
- North America
- North American highlights
- Tight oil
- Unconventional gas
- Gulf of Mexico
- North America corporate
- Rest of the World
- Africa
- 6 more item(s)...
Appendix 1: additional tables and charts

Tables and charts

This report includes the following images and tables:

H1 2019 M&A deal count
H1 2019 M&A deal spend
H1 2018 deal count compared to historical benchmarks

H1 2019 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)
M&A H1 2019
US$200 million transactions H1 2019
Weighted average Implied Long-Term Oil Price vs. Brent oil price vs. deal count
M&A spend by region
M&A spend by deal category
Resource traded
WM 2P reserves traded by region
Net M&A spend by peer group
21 more item(s)...