Canada’s oil and gas M&A deals total US$10.01 billion in 4Q20

The value marked an increase of 468.3% over the previous quarter and a rise of 504.2% when compared with the last four quarter average of US$1.66 billion.

Canada held a 13.7% share of the global oil and gas industry M&A deal value that totalled US$73.03 billion in 4Q20. In terms of deal activity, Canada recorded 27 deals during 4Q20, marking a rise of 3.9% over the previous quarter and a drop of 22.9% over the last four quarter average.

Top deals

The top five oil and gas industry M&A deals accounted for 95.9% of the overall value during 4Q20.

The combined value of the top five oil and gas M&A deals stood at US$9.6 billion, against the overall value of US$10.01 billion recorded for the month.

The top five oil and gas industry deals of 4Q20tracked by GlobalData were:

• The US$7.77 billion merger of Cenovus Energy and Husky Energy.
• The US$703.13 million acquisition of Torc Oil and Gas by Whitecap Resources.
• AltaGas Idemitsu Joint Venture’s US$541.73 million acquisition of Petrogas Energy.
• The US$478.23 million acquisition of Jupiter Resources by Tourmaline Oil.
• Tourmaline Oil’s acquisition of Modern Resources for US$108.06 million.

Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/05022021/canadas-oil-and-gas-ma-deals-total-us1001-billion-in-4q20/