Sproule ERCE Global Upstream M&A Tracker H2 2023

Zhamal Schoennemann (Principal Economist, Sproule ERCE) [email protected]

Welcome to Sproule ERCE’s Global Upstream M&A Tracker

Sproule 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 H2 2023.

Global M&A: At a Glance

Sproule ERCE had recorded 69 deals with a total reported deal value of approximately US$153.64bn in H2/23.

Two mega deals were announced in the period: ExxonMobil/Pioneer Natural Resources for US$59.5bn and Chevron/Hess for US$53bn.

Another six deals crossed the US$1bn mark, including Occidental’s acquisition of CrownRock for US$12bn and  Harbour’s acquisition of Wintershall Dea’s non-Russian oil & gas assets for US$11.2bn.

The deal values reported below are based on publicly available information on the time when the deal was announced. These deals include announced deals from the period between 01/07/23 up until 31/12/23.

Read the full report for more analysis and Global Upstream M&A Metrics.