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Global upstream M&A: half-year review 2016

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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.

What's included

This report contains

  • Document

    Global MandA Half Year Review 2016.xls

    XLS 1.10 MB

  • Document

    Global upstream M&A: half year review 2016

    PDF 723.54 KB

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    Global upstream M&A: half year review 2016

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Table of contents

Tables and charts

This report includes 32 images and tables including:

Images

  • 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
  • Net M&A spend – Majors
  • Net M&A spend – Independents
  • Net M&A spend – NOCS (domestic and overseas)
  • Overseas acquisitions - NOCs by NOC origin
  • North America deal spend by peer group
  • Deal count by region ex-North America
  • Global upstream M&A: half-year review 2016: Image 21
  • M&A Spend – N.A. tight Oil to end June 2016
  • M&A Spend – N.A. uncon gas to end of June 2016
  • M&A spend by region
  • M&A spend by deal category
  • Resources traded
  • WM 2P reserves traded by region
  • Weighted average Implied Long-Term Oil Price vs. Brent oil price vs. deal count
  • Net M&A spend by peer group
  • H1 2016 net M&A spend by peer group
  • Implied Long-Term Oil Price vs. Traditional 'US$ per barrel' Metrics

Tables

  • Peer groups as covered in Wood Mackenzie's Corporate Service (Independents – Mid and Large Caps):
  • M&A Half Year
  • US$400 million transactions H1 2016

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