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Announced worldwide M&A in third-quarter 2022 fell 48.1% to $544.4 billion compared with the same time last year, according to analytics and consulting firm GlobalData.
Deal value for the third quarter actually fell below COVID-hit 2020’s third quarter deal value and was the worst quarter since 2018, GlobalData said.
“Deal activity failed to sustain 2021’s momentum through 2022 due to volatile market conditions amid geopolitical tensions and macroeconomic pressures,” the firm said in a Nov. 8 report.
U.S. oil and gas deals made up three of the top five global M&A transactions in the first three quarters of the year, including two deals involving upstream companies, according to GlobalData.
Top deals in the U.S. included the $8.1 billion merger of South Jersey Industries Inc. and Infrastructure Investments Fund, as well as two shale-related transactions by EQT Corp. and the merger of Whiting Petroleum Corp. and Oasis Petroleum Inc. to form Chord Energy Corp.
Here’s a look at how the energy market fared in the first three quarters of 2022, the top legal advisers on those deals and the top energy deals so far this year.
Quarterly breakdown by deal value, volume, size
M&A deals by sector
Top oil & gas M&A deals
Top legal advisers
2024-01-09 - ONGC’s M Field represents the second phase of the larger 98/2 Block development project which is expected to reach peak production of 45,000 bbl/d and 10 MMcm/d.
2024-01-03 - CNOOC’s South China Sea development is expected to reach peak production of 22,600 bbl/d in 2025.
2023-12-13 - After two mysterious oil spills in the Gulf of Mexico, the U.S. Coast Guard is looking into the Main Pass Oil Gathering’s pipeline for answers.
2024-01-10 - If you believe the IEA’s analysis, plenty of oil and gas companies won’t survive very far into the future.
2024-01-11 - The Norwegian Offshore Directorate provided updates on 2023 activity, including 14 wildcat discoveries and eight projects going online and urging exploration in frontier areas.