M&A Tracker | Analysis of Global Upstream Deals
ERCE Global Upstream M&A Tracker Q1 2021 Issue
Zhamal Orazbayeva (Head of Economics, ERCE Asia Pacific) firstname.lastname@example.org
Nicholas Lee (Graduate Economist, ERCE Asia Pacific) email@example.com
Welcome to ERCE’s Global Upstream M&A Tracker
ERCE’s Global Upstream M&A Tracker provides an easy and detailed summary and analysis of global upstream M&A deals, both asset- and corporate-level. This edition covers upstream M&A activity over Q1 2021.
Global M&A: At a Glance
Total M&A deal value in Q1/21* has increased in comparison to Q4/20. ERCE recorded a total deal value of US$20.4Bn compared to US$15.97Bn recorded in Q4/20.
4 deals crossed the US$1Bn mark: the Pioneer/DoublePoint Energy deal, the ARC/Seven Generations deal, the PTTEP/BP deal and the NEO Energy/ExxonMobil deal. North America was the most active region in terms of number of deals and transaction value, followed by the North Sea then the Middle East.
ERCE has recorded 21 deals with a total deal value of US$12.72Bn in North America in Q1/21. Transaction values continue to be driven by the consolidation in the shale patch, albeit at a lower pace compared to the end of 2020.
Activity in the North Sea has continued to pick up, as new entrants (Neo Energy, Waldorf Production) purchase assets. In Q1/21, ERCE recorded 9 M&A deals in the North Sea with a total deal value of US$3.94Bn, the highest since Q3/19. 3 out of 4 deals with the highest transaction values in the North Sea were private equity backed.
M&A in Africa, APAC, Latin America and onshore Europe was muted, with a combined deal value of US$228.4MM.
*announced deals from the period between 26/1/21 and 20/4/21
Read the full report for more analysis and Global Upstream M&A Metrics.
About ERCE Asia Pacific
ERCE is the leading employee-owned Energy evaluation firm with global expertise and knowledge dating back 45 years with offices in London and Australia. Our in-house team comprises of Geoscience, Engineering, Commercial, Facilities, Cost Estimation and Economics professionals. We work for exploration & production companies (from small boutique to super majors), the finance community, and legal institutions. ERCE is involved in technical projects ranging from oil & gas exploration and appraisal through to brownfield opportunity identification & decommissioning, reserves and resource audits, M&A evaluation, commercial valuation and analysis and dispute processes.
ERC Equipoise Ltd (“ERCE”) has made every effort to ensure that the interpretations, conclusions and recommendations set out in this presentation are accurate and reliable in accordance with good industry practice. ERCE does not, however, guarantee the correctness of any such interpretations and shall not be liable or responsible for any loss, costs, damages or expenses incurred or sustained by anyone resulting from any interpretation or recommendation made by any of its officers, agents or employees. The information, data and other content in this presentation is provided for general information only. We do not guarantee any information, data or content on it, will be free from errors or omissions. Please note that some of the information incorporates, or is based on, third party data and any of the information, data or other content may be out of date at any given time, and we are under no obligation to update it. Information does not amount to advice, and such information should not be relied upon. You should obtain professional or specialist advice before taking any action on the basis of any information set out in this presentation. We do not make any representations, warranties or guarantees, whether express or implied, that any of the information, data or other content contained is accurate, complete, or up to date. We do not make any representations or give any warranties that any of the content does not infringe any intellectual property rights of a third party. We shall not have any liability whatsoever, whether in contract, tort (including negligence or breach of statutory duty), misrepresentation (whether innocent or negligent) or otherwise, for any loss, damage, costs, expenses or fees suffered or incurred by any party as a result of any errors or inaccuracies in, or any party relying or acting upon, any information, data or statements set out in this presentation. You acknowledge that your use of any content, information or materials in this presentation is entirely at your own risk. Where this presentation contains links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources. We assume no responsibility for any of the content, information or any statements contained on any websites linked in this presentation. Such links should not be interpreted as endorsement by us of those linked websites. Any implied values presented are based on publicly available information and are not to be construed as ERCE’s opinion of intrinsic and/or fair market value. The data and information presented, as well as opinions expressed, do not constitute investment advice.