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Global upstream M&A in brief: 2020 archive

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01 February 2021

Global upstream M&A in brief: 2020 archive

Report summary

Welcome to the Global upstream M&A in brief, where we bring you opinion and analysis on M&A-related news. The report provides rolling coverage of notable upstream transactions and potential A&D activity. Periodic market summaries will be supported in this document by an enhanced version of the excel download that was previously found in the Monthly Market Update. You can bookmark this report for regular updates.

Table of contents

    • Regional activity
  • Sval Energi to acquire Edison’s Norwegian portfolio for US$300 million
  • OMV Petrom sells its Kazakh assets to local firm
  • Rosneft steps up M&A activity in Russia at year end
  • Viaro Energy buys SSE assets for £120 million
  • 2020 consolidation continues with Diamondback’s two deals
  • Energean completes acquisition of Edison E&P
  • Equinor acquires early-life oil assets in East Siberia
  • Whitecap acquires TORC for US$700 million
  • How will ExxonMobil's US gas exodus play out?
  • Regional activity
  • Russia's Vostok Oil project to get its first foreign investor
  • ExxonMobil pulls Bass Strait asset sales process
  • Sasol’s upstream retreat continues as VAALCO ups its stake in Etame Marin, Gabon
  • Russia’s Volga Gas to get a new owner
  • Deal Pipeline: Ovintiv looks to offload its Eagle Ford position
  • Bonanza Creek acquires DJ Basin peer HighPoint Resources
  • FAR exits Senegal's Sangomar
  • New Asia-Pacific upstream M&A watchlist
  • Tourmaline consolidates in Canada's Deep Basin
  • Regional activity
  • EQT to buy Chevron’s Appalachia assets
  • Cenovus buys Husky
  • Dana Gas sells onshore Egypt assets to IPR
  • Pioneer picking up Parsley for US$7.6 billion
  • ConocoPhillips to acquire Concho Resources
  • Lundin Energy acquires Barents Sea assets for US$125 million
  • Chrysaor to reverse into Premier
  • Oxy sells its onshore Colombia assets for US$825 million
    • Regional activity
  • Devon and WPX agree merger
  • Shell acquires exploration acreage from Kosmos
  • Regional activity
  • Consolidation continues in western Canada
  • Qatar Petroleum enters Angola, farming-in Block 48
  • Woodside pre-empts LUKOIL Sangomar transaction
  • Waterous consolidates to form Strathcona Resources
  • CNRL swoops in to acquire Painted Pony
  • Range's loss is LNG's gain
  • Regional activity
  • Viaro Energy agrees US$310 million deal to acquire RockRose
  • Regional activity
  • Energean cuts Edison E&P purchase price by US$466 million
  • BP announces US$5 billion sale of petrochemicals business to INEOS
  • Chevron puts the North West Shelf LNG project up for sale
  • Antero secures US$402 million in latest Northeast deal
  • Premier and BP agree revised terms for US$625 million UK deal
  • Regional activity
  • HitecVision goes it alone with revised Total UK deal
  • Neptune Energy cancels deal with Energean
  • Total cancels its acquisition of Occidental's Ghana portfolio
  • Regulator blocks Pieridae acquisition of Shell assets
  • Equinor sells remaining stake in Lundin for US$336 million
  • Shell exits Appalachia
  • HighPeak Funds reverses into Pure Acquisition Corp.
  • Regional activity
  • BP and Hilcorp revise terms of US$5.6 billion Alaska deal
  • Total agrees new deal with Tullow in Uganda
  • Chevron completes Azerbaijan disposal to MOL
  • Santos sells down stake in Barossa to JERA
    • Regional activity
  • Lenders to take majority stake in Sanchez Energy Corporation
  • Coronavirus and oil price collapse will extend M&A slump
  • Santos farms down 25% of Bayu-Undan and Darwin LNG to SK E&S
  • Regional activity
  • PGNiG agrees Norwegian swap deal with Aker BP
  • PetroRio buys FPSO and farms in to Tubarao Martelo
  • Regional activity
  • Equinor and Shell strengthen their presence in the Vaca Muerta
  • Bankrupt Alta Mesa assets sold for US$320 million
  • Premier makes two UK North Sea acquisitions for up to US$870 million

Tables and charts

This report includes 40 images and tables including:

  • Global M&A – Q4 2020
  • 2020 quarterly deal spend and count
  • 2020 quarterly Implied Long-Term Oil Price
  • Global M&A – November 2020
  • November 2020 deal count compared to historical benchmarks
  • November 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Global M&A – October 2020
  • October 2020 deal count compared to historical benchmarks
  • October 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Global M&A – Q3 2020
  • Kosmos exploration acreage
  • Global M&A – August 2020
  • August 2020 deal count compared to historical benchmarks
  • August 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Global M&A – July 2020
  • July 2020 deal count compared to historical benchmarks
  • July 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Global M&A – June 2020
  • June 2020 deal count compared to historical benchmarks
  • June 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Global M&A – May 2020
  • May 2020 deal count compared to historical benchmarks
  • May 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals))
  • Global M&A – April 2020
  • April 2020 deal count compared to historical benchmarks
  • April 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals))
  • Quarterly M&A regional deal spend and global count (adjusted to exclude US$50m+ megadeals)
  • Global M&A – Q1 2020
  • Global M&A – February 2020
  • February 2020 deal count compared to historical benchmarks
  • February 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Deal Announcements - January 2020
  • January 2020 deal count compared to historical benchmarks
  • January 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Q4 2020 deal count compared to historical benchmarks
  • Q4 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Q3 2020 deal count compared to historical benchmarks
  • Q3 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)
  • Q1 2020 deal count compared to historical benchmarks
  • Q1 2020 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50bn+ megadeals)

What's included

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  • Document

    Global upstream M&A in brief: 2020 archive

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    Global upstream M&A in brief

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