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Global upstream M&A in brief

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14 August 2019

Global upstream M&A in brief

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

  • Deal Pipeline – ExxonMobil reportedly seeking UK upstream buyer
    • Regional activity
  • Ecopetrol in Midland Permian tie-up with Oxy
  • Asian capital returns to US shale
  • Deal Pipeline – Another legacy player up for sale in the North Sea
  • Neptune ups its stakes in Kutei Basin
  • ConocoPhillips to partner with Wintershall Dea in Vaca Muerta
  • Deal Pipeline – Total announces US$5 billion divestment plan
  • Petrobras divests upstream assets for US$1.5 billion
  • Deal Pipeline – US corporate investment: mixed signals for M&A
  • Range Resources divests additional royalty interests
  • Deal Pipeline – Amerisur rejects bid from M&P, begins sales process
  • Permian pure-play Callon acquires Carrizo for US$3.3 billion
  • Total sells UK assets
  • Deal Pipeline – Siccar Point considering exit routes
  • Equinor sells stake in Lundin Petroleum
    • Regional activity
  • NOVATEK sells stake in Arctic LNG 2 to Mitsui and JOGMEC
  • Oil Search exercises US$450 million Alaska option
  • Tullow considers Uganda exit
  • ExxonMobil looking at Norwegian exit
  • OKEA IPO fails to impress
  • PTTEP continues its acquisition spree
  • Glencore looking to exit Chad
  • Comstock consolidates in Haynesville with US$2.25 billion Covey deal
  • PGNiG acquires a stake in the King Lear field from Total offshore Norway
  • Shell and Gazpromneft sign new 50:50 JV
  • LUKOIL enters the Congo: acquires NewAge’s 25% stake in Marine XII for US$800 million
  • Dragon Oil makes a splash in Egypt with the acquisition of BP’s GUPCO assets
  • Regional activity
  • Chevron sells substantially all its UK North Sea assets to Delek
  • Devon exits Canada
  • Sonatrach to pre-empt Total in Algeria?
  • Talos showing interest in Oxy's recently acquired deepwater GoM position
  • Total exploring Kashagan farm-down
  • Santos enters P’nyang, brings PNG expansion closer
  • Equinor pre-empts Delek at Caesar Tonga
  • Oxy wins Anadarko race as Chevron withdraws
    • Regional activity
    • Petrobras sells down to PETRONAS
    • Chinese NOCs join NOVATEK in Arctic LNG
    • Occidental enters Anadarko race with hostile bid
    • Murphy buys GoM assets from LLOG for US$1.4 billion
    • Chrysaor buys ConocoPhillips' UK assets for US$2.7 billion
    • Chevron buys Anadarko for US$50 billion
    • Shell high-grades in deepwater GoM
    • Carlyle buys into Cepsa
    • ExxonMobil lining up Nigeria sale
    • Mime Petroleum enters Norwegian upstream
    • Regional activity
    • Diversified diversifies into unconventionals
    • Murphy exits Malaysia to PTTEP for US$2.1 billion
    • Brigham lining up second run at the Permian
    • SM Energy and Carrizo rumoured to be considering tie-up
    • Equinor linked with Eagle Ford exit
    • Petrobras signals significant uptick in planned disposals
    • ExxonMobil 'anticipates' US$15 billion divestments by 2021
    • BP's unconventional gas assets onshore US attracting bidders
    • INPEX enters US tight oil

Tables and charts

This report includes 16 images and tables including:

  • Global M&A – July 2019
  • Global M&A – June 2019
  • Global M&A – May 2019
  • May 2019 deal count compared to historical benchmarks
  • May 2019 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)
  • Global M&A – April 2019
  • Global M&A – Q1 2019
  • July 2019 deal count compared to historical benchmarks
  • July 2019 disclosed consideration compared to historical benchmarks (adjusted to exclude US$50m+ megadeals)
  • June 2019 deal count compared to historical benchmarks
  • June 2019 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)
  • April 2019 deal count compared to historical benchmarks
  • April 2019 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)
  • Q1 2019 deal count compared to historical benchmarks
  • Q1 2019 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)
  • BP US Lower 48 production

What's included

This report contains:

  • Document

    Global upstream M&A in brief

    PDF 7.66 MB

  • Document

    Global upstream M&A in brief

    ZIP 6.34 MB

  • Document

    DOWNLOAD_Monthly_Market_Update_July_2019.xls

    XLS 6.81 MB

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