Insight
Global upstream M&A: H1 2021 review and outlook
Report summary
North American corporate consolidation remained the key global trend in 2021. From multi-basin mash-ups to in-basin scale-ups, companies combined at an incredible rate. Read on to find out what’s driving this corporate consolidation, plus: • analysis of global M&A activity • a breakdown of key deals and trends around the regions • a review of what key peer groups have been buying and selling • discussion of valuation trends We also run down the key things to look for in the second half of the year.
Table of contents
- The Majors
- Corporate Service Large/Mid Caps
- Other Public E&Ps
- Private/Private Equity
- NOCs
-
The big theme – corporate consolidation
- North America remains the epicentre
- Single-basin scale and multi-basin diversity – two paths, one goal
- International consolidation to remain more limited
-
North America
- US tight oil
- US gas
- US Gulf of Mexico
- Canada
-
Rest of the World
- Europe
- Asia and Oceania
- Africa
- Middle East
- Latin America
- Russia and the Caspian
Tables and charts
This report includes 27 images and tables including:
- H1 North America peer group
- H1 RoW peer group
- North America deal count
- North America deal spend
- Deal count by region
- Deal spend by region
- H1 2021 deal count compared to historical benchmarks
- H1 2021 disclosed consideration compared to historical benchmarks (exclude US$50bn+ megadeals)
- M&A spend – N.A. tight oil by play
- M&A spend – N.A. uncons gas by resource type
- Value of N.A. deals in Pipeline by resource
- No. of N.A. buyers / sellers in Pipeline
- Value of ROW deals in Pipeline by resource
- No. of ROW buyers / sellers in Pipeline
- M&A H1 2016 – H1 2021
- H1 2021 transactions >US$1 billion
- Weighted average Implied Long-Term Oil Price vs. Brent oil price vs. deal count
- M&A count by deal category
- Net M&A spend by peer group
- Net M&A spend – Majors
- Net M&A spend – NOCs
- Resource traded
- M&A spend by deal category
- Net M&A spend by peer group
- Net M&A spend – Independents (Large/Mid)
- Overseas spend – NOCs by NOC origin
- WM 2P reserves traded by region
What's included
This report contains:
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