Oil, Gas M&A in Upstream Sector Climbs to $37 Billion in 4Q 2014



Away from North America, the largest deal was also gas-weighted. Malaysia’s Petronas acquired Statoil’s 15.5% stake in the Shah Deniz project of Azerbaijan for $2.25 billion; the assets produced 228 mmcfe/d net to Statoil’s interest in Q3 2014 (80% gas). This sale by Statoil, as well as the sale in the Marcellus this quarter, formed part of the Norwegian company’s plans to refocus its efforts on prioritising high potential future developments. Petronas was no doubt enticed by the high production, whilst the purchase price of around $60,000 per flowing barrel is very reasonable compared to other deals for such high volumes of liquids-rich gas production worldwide. Petronas has been very busy spreading itself around the world’s oil and gas map; in 2014 alone, the company signed co-operation agreements with the state-controlled entities in Mexico and Argentina, completed the acquisition of Talisman’s Montney assets in March to support its move into Canadian LNG and announced a small farm-in deal with Lansdowne Oil & Gas in the Republic of Ireland in November. 

Oil, Gas M&A in Upstream Sector Climbs to $37 Billion in 4Q 2014
Top 10 Deals of Q4 2014

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WHAT DO YOU THINK?


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Scott Mashuda  |  January 13, 2015
Mark, Great research and excellent piece. I deal mostly in lower-middle market M&A. I just published an article a few days ago with my prediction for oil & gas M&A in 2015. Id welcome your thoughts A link is as follows: http://www.riversedgealliance.com/blog/oil-and-gas-mergers-and-acquisitions-expected-to-increase-in-the-lower-middle-market-in-2015