Q1 sees squeeze on upstream deal flow and acquisition sizes

Source: Evaluate Energy

Upstream M&A deal spend totalled $16 billion globally - a 19% drop on Q4 2022 – as reduced activity mirrored a downward trend in oil prices, according to Evaluate Energy’s latest M&A infographic.

Key Statistics on the low levels of activity

  • Q1’s deal total of $16 billion was also 51% lower than the quarterly average seen over the past five years
  • It is the lowest quarterly spend since Q2 2020
  • The quarter saw just 20 and 24 deals valued at over $100 million and $50 million, respectively. Both counts are at their lowest since Q3 2020.

Evaluate Energy’s infographic includes:

  • Analysis on the causes of this low M&A activity
  • Details on spending by region where North American deals continued to dominate
  • A deep dive into BP’s recent acquisition activity on the back of its new strategy to slow its shift from fossil fuels

Download the infographic at this link

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