Sproule ERCE Global Upstream M&A Tracker Q1 2021 Issue

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 Q1 2021.

Global M&A: At a Glance

Total M&A deal value in Q1/21* has increased in comparison to Q4/20. Sproule ERCE recorded a total deal value of US$20.4Bn compared to US$15.97Bn recorded in Q4/20.

4 deals crossed the US$1Bn mark: the Pioneer/DoublePoint Energy deal, the ARC/Seven Generations deal, the PTTEP/BP deal and the NEO Energy/ExxonMobil deal. North America was the most active region in terms of number of deals and transaction value, followed by the North Sea then the Middle East.

Sproule ERCE has recorded 21 deals with a total deal value of US$12.72Bn in North America in Q1/21. Transaction values continue to be driven by the consolidation in the shale patch, albeit at a lower pace compared to the end of 2020.

Activity in the North Sea has continued to pick up, as new entrants (Neo Energy, Waldorf Production) purchase assets. In Q1/21, Sproule ERCE recorded 9 M&A deals in the North Sea with a total deal value of US$3.94Bn, the highest since Q3/19. 3 out of 4 deals with the highest transaction values in the North Sea were private equity backed.

M&A in Africa, APAC, Latin America and onshore Europe was muted, with a combined deal value of US$228.4MM.

*announced deals from the period between 26/1/21 and 20/4/21

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