In the global oil & gas industry, there were 291 M&A deals announced in Q3 2024, worth a total value of $42bn, according to GlobalData’s Deals Database. The $5bn acquisition of Grayson Mill Energy by Devon Energy was the industry’s largest disclosed deal. GlobalData’s Oil and Gas Industry Mergers and Acquisitions Deals report for Q3 2024 uncovers key trends behind the oil & gas market M&A deals and helps gain a comprehensive understanding of the disruptive themes driving most notable to deals. Buy the report here.
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In value terms, M&A activity decreased by 36% in Q3 2024 compared with the previous quarter’s total of $65.4bn and fell by 46% as compared to Q3 2023. Related deal volume decreased by 3% in Q3 2024 versus the previous quarter and was 17% lower than in Q3 2023.
Notably, foreign direct investments (fdi)-related deals accounted for a 30% share of the global oil & gas industry’s M&A activity in Q3 2024, up 10% over the previous quarter.
The top-ranked financial advisors supporting these M&A deals in 9M 2024 were Evercore; Jefferies Financial Group; Royal Bank of Canada with 14, 14, 14 deals respectively.
The top-ranked legal advisors supporting these M&A deals in 9M 2024 were Kirkland & Ellis; Vinson & Elkins; Latham & Watkins with 31, 21, 19 deals respectively.
For further understanding of GlobalData's Oil and Gas Industry Mergers and Acquisitions Deals by Top Themes in Q3 2024 – Strategic Intelligence, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.
