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Global upstream M&A: H1 2019 review and outlook

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Global upstream M&A in H1 2019 flattered to deceive. Occidental’s US$53 billion acquisition of Anadarko grabbed the headlines – the stare-down with Chevron, the Omaha connection, the pre-emptive disposal of Africa to Total. But a broader malaise saw global deal flow scrape twenty-year lows. Valuations weakened, with the implied long-term oil price averaging US$57/bbl in H1 2019 (vs. US$64/bbl through 2018).

Table of contents

    • Valuations
    • North America
    • North American highlights
    • Tight oil
    • Unconventional gas
    • Gulf of Mexico
    • North America corporate
    • Rest of the World
    • Africa
    • 6 more item(s)...
  • Appendix 1: additional tables and charts

Tables and charts

This report includes the following images and tables:

  • H1 2019 M&A deal count
  • H1 2019 M&A deal spend
  • H1 2018 deal count compared to historical benchmarks
  • H1 2019 disclosed consideration compared to historical benchmarks (adjusted for Shell-BG)
  • M&A H1 2019
  • US$200 million transactions H1 2019
  • Weighted average Implied Long-Term Oil Price vs. Brent oil price vs. deal count
  • M&A spend by region
  • M&A spend by deal category
  • Resource traded
  • WM 2P reserves traded by region
  • Net M&A spend by peer group
  • 21 more item(s)...

What's included

This report contains:

  • Document

    Global MandA Half Year Review 2019.xls

    XLS 5.90 MB

  • Document

    Global upstream M&A: H1 2019 review and outlook

    PDF 1.78 MB