Merger & acquisition deal value rebounds in Oil & Gas sector in 2010
Our global oil & gas transactions review is now available now to share with clients and targets. The annual review looks back at some of the main trends in oil and gas merger and acquisitions activity over 2010 and consider the outlook for deal activity across the sector in 2011. Regional roundups offer insight into activity in key geographies.
The total value of oil and gas transactions announced globally reached US$270b in 2010, this is 35% higher than the total for the previous year. In aggregate, 947 deals were announced in 2010, with upstream continuing to dominate the landscape, accounting for 73% of transactions. Volumes were 5% higher than 2009.
Rebounding crude prices (Brent averaged US$79.62/bbl in 2010 compared to US$74.58/bbl in 2009) and better capital availability provided a support to the increase in deal values. Gas prices, a victim of a robust supply position in a time of moderated demand, were not as strong but this dynamic also represented an important, driver of transaction activity in many regions.
Click here to download Global oil and gas transactions review-2010.