Total oil and gas industry mergers and acquisitions (M&A) in the fourth quarter of last year worth $10.01billion (€8.3 billion) were announced in Canada.
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 $1.66 billion (€1.38 billion), according to GlobalData’s deals database.
Canada held a 13.7% share of the global oil and gas industry M&A deal value that totalled $73.03 billion (€60.7 billion) in Q4, 2020.
In terms of deal activity, Canada recorded 27 deals during the period, marking a rise of 3.9% over the previous quarter and a drop of 22.9% over the last four-quarter average.
The top five oil and gas industry M&A deals accounted for 95.9% of the overall value during that fourth quarter.
The combined value of the top five oil & gas M&A deals stood at $9.6 billion (€8 billion) against the overall value of $10.01 billion (8.3 billion) recorded for the month.
The top five oil and gas industry deals of Q4 2020 tracked by GlobalData were:
1. The $7.77 billion (€6.4 billion) merger of Cenovus Energy and Husky Energy
2. The $703.13 million (€584 million) acquisition of Torc Oil and Gas by Whitecap Resources
3. AltaGas Idemitsu Joint Venture’s $541.73 million (€450 million) acquisition of Petrogas Energy
4. The $478.23 million (€398 million) acquisition of Jupiter Resources by Tourmaline Oil
5. Tourmaline Oil’s acquisition of Modern Resources for $108.06 million (€89 million).
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