Global upstream M&A: half-year review 2016 Report

Insight 06 July 2016

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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

Rallied by a resurgent asset market in May and June, deal count was up by nearly a third year-on-year, albeit still well down on the five-year average. Spend of US$41 billion was well down on H1 2015, but up by more than half when excluding Shell-BG. Asset deal activity was strong, though corporate deals fell to a multi-year low. The period finished with June delivering the highest deal count since July 2014. But a note of caution is required: twelve months ago, in our H1 2015 review, we discussed the same optimism that appeared to be returning to the market. But the oil price slid, confidence evaporated and M&A activity growth faltered.

Deal activity showing signs of recovery following sluggish start
Global market ILTOP drops to low US$70s per barrel
Deal Pipeline swelled by would-be acquirers
Corporate activity
- Majors
- Independents
- NOCs
- Private equity
Regional review and outlook
- North America
  - Tight oil
  - Unconventional gas
  - Heavy Oil
  - Gulf of Mexico
- Rest of the World
  - Africa
    - Africa Deal Pipeline entries added/updated in H1 2016
  - Asia Pacific
    - Asia Pacific Deal Pipeline entries added/updated in H1 2016
  - Europe
    - Europe Deal Pipeline entries added/updated in H1 2016
  - Latin America
    - Latin America Deal Pipeline entries added/updated in H1 2016
  - Middle East
    - Middle East Deal Pipeline entries added/updated in H1 2016
  - Russia and Caspian
    - Russia and Caspian Deal Pipeline entries added/updated in H1 2016
    - Appendix 1 – additional charts and tables

Tables and charts

This report includes the following images and tables:

H1 2016 deals
Global upstream M&A: half-year review 2016: Image 2
Global upstream M&A: half-year review 2016: Image 3

Implied Long-Term Oil Price (deal by deal) vs. Brent oil price
Global M&A spend vs. Brent Prices
N. America gas M&A spend vs. HH gas prices
Deals in Pipeline by region/resource
Deals in Pipeline by disposals / acquisitions
H1 2016 deal count compared to historical benchmarks
H1 2016 disclosed consideration (US$ million, adjusted) compare to historical benchmarks
Deal count split by North America / ROW
Disclosed spend* split by North America / ROW
20 more item(s)...