Insight

Upstream M&A: 2016 outlook

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Report summary

In this Insight:  We lay out our key expectations for upstream M&A in 2016, giving particular focus to the implications of a sustained low-oil price scenario We consider the outlook for the main corporate peer groups We illustrate the key regional events to look out for.  Also look out for our M&A review of 2015, coming early January 2016.

What's included

This report contains

  • Document

    Upstream M&A: 2016 outlook

    PDF 484.07 KB

Table of contents

  • Executive Summary
  • M&A in 2015 – in brief
    • There will be more sellers
    • There will still be buyers
    • Valuations will soften
    • Consolidation will increase
    • Costs will be a driver
    • Unusual deal structures will increase
  • Hope is a strategy
    • Majors
    • US Independents
    • International Independents
    • Asian NOCs
    • Other NOCs
    • Small Cap
    • Private Equity
    • Other
  • Regional Outlook

Tables and charts

This report includes 4 images and tables including:

Images

  • Oil price, Implied Long Term Oil Price, and deal activity
  • Upstream portfolio: Brent price required to be cash flow neutral in 2016
  • Upstream M&A: 2016 outlook: Image 4
  • Current long term oil price implied by market valuations

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