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) zorazbayeva@erce.energy

Nicholas Lee (Graduate Economist, ERCE Asia Pacific) nlee@erce.energy

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.


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