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11 months ago

Surge of up to US$10bn in M&A Values in the Oil and Gas Equipment and Services Industry...

A combined value of US$9.9bn in mergers and acquisitions (M&A) was recorded in the oil and gas equipment and services industry in Q3 2018, according to GlobalData a leading data and analytics company.

This was an enormous increase from the US$4.1bn in M&A deals announced in the previous quarter. However, the number of M&A deals decreased by 12% from 86 in Q2 2018 to 76 in Q3 2018.

The company’s latest report: ‘Quarterly Equipment and Services Deals Review – Q3 2018’ states that, of the total M&A deals, 59 deals, with a combined value of US$2.6bn, were domestic acquisitions and the remaining 17, with a combined value of US$7.3bn, were cross-border transactions. A quarter-on-quarter comparison shows a significant increase in domestic transaction values and an enormous increase in cross-border transaction values in Q3 2018, compared with US$1.7bn in domestic M&A values and US$2.4bn in cross-border transaction values in Q2 2018.

Praveen Karnati, Oil and Gas Analyst at GlobalData, comments: “Americas remained the frontrunner for M&A, registering 47 deals with a total value of US$4.2bn in Q3 2018. Cross-border activity in the region decreased by 54% from 11 in Q2 2018 to five in Q3 2018, while domestic acquisitions decreased from 49 deals in Q2 2018 to 42 in Q3 2018.”

Karnati continues, “Linde’s agreement to sell North and South American gases business to CVC Capital and Messer Group for US$3.3bn was the top deal registered in Q3 2018. Another landmark deal that was recorded in Q3 2018 was Transocean’s agreement to acquire Ocean Rig UDW for US$2.7bn.”

Information is based on GlobalData’s report: Quarterly Equipment and Services Deals Review – Q3 2018 


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