Total oil & gas industry M&A deals in Q4 2019 worth $3.26bn were announced in Canada, according to GlobalData’s deals database.

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The value marked an increase of 55.8% over the previous quarter and a rise of 53.7% when compared with the last four-quarter average of $2.12bn.

Canada held a 5.1% share of the global oil & gas industry M&A deal value that totalled $63.54bn in Q4 2019.

In terms of deal activity, Canada recorded 30 deals during Q4 2019, marking a rise of 30.4% over the previous quarter and a drop of 28.6% over the last four-quarter average.

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Canada oil & gas industry M&A deals in Q4 2019: Top deals

The top five oil & gas industry M&A deals accounted for 94.1% of the overall value during Q4 2019.

The combined value of the top five oil & gas M&A deals stood at $3.07bn, against the overall value of $3.26bn recorded for the month.

The top five oil & gas industry deals of Q4 2019 tracked by GlobalData were:

1) Alberta Teachers’ Retirement Fund Board and Public Sector Pension Investment Board’s $1.29bn acquisition of AltaGas Canada

2) The $584.83m asset transaction with Tourmaline Oil by Topaz Energy

3) Cona Resources’ $562.16m acquisition of Pengrowth Energy

4) The $377.31m asset transaction with Crescent Point Energy by Steel Reef Infrastructure

5) Tidewater Midstream and Infrastructure’s asset transaction with Husky Energy for $246.44m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.