U.S. deals dominate global M&A in 2019

Occidental completed its acquisition of Anadarko Petroleum in 2019. Image: Anadarko

Data available in the latest upstream M&A report from Evaluate Energy shows that 2019 was another year dominated by deals for assets in the United States.

While 2019 was also a big year for deals in Latin America, Africa and Europe, 49% of the world’s $176 billion total of new upstream deals agreed revolved around deals for U.S. assets.

Evaluate Energy’s report, supported by Deloitte, can be downloaded at this link.

The U.S. total value of $85.9 billion (excluding $8.8 billion of Occidental Petroleum’s Anadarko purchase that was related to African assets) was the highest deal total for the country since the price downturn in 2014.

Source: Evaluate Energy, 2019 Global Upstream M&A Review

Keeping up recent trends, the Permian Basin was a key factor in this year’s total, with six individual +$1 billion deals taking place including Occidental’s Anadarko deal. There were also major deals in Alaska, the Haynesville shale and the Gulf of Mexico.

For more on these major U.S. deals to be agreed in the upstream sector last year, download Evaluate Energy’s report at this link.

Also included in the report:

  • Analysis on how far a stable oil price impacted deal activity
  • A focus on Latin American deals, including Total’s $5.1 billion deal in Suriname and major licensing activity in Brazil
  • Details on European maturing assets worldwide being sold off to private companies
  • A comparison of global Q4 2019 activity to every quarter since the start of 2013