In this edition of our Global Oil and Gas M&A Outlook, we examine and evaluate current trends for commodities prices, leading sector indicators, valuation developments, M&A deals conducted and developments on featured specialty subsectors during Q2 2024.

Top Insights

A total of 240 deals were announced in Q2 2024 with a disclosed value of USD 67bn. In comparison to Q1 2024, which registered 266 deals and a total disclosed value of USD 103 billion, this quarter experienced a 10% decline in total announced deals and 34% in disclosed value.
The four largest transactions of the quarter totaled approximately USD 37.4bn, accounting for 56% of the global disclosed value. The acquisition of Marathon Oil by ConocoPhillips for USD 23.6bn alone represented 35% of quarterly disclosed value.
The U.S. M&A market accounted for USD 54bn of disclosed value in Q2 2024, representing 80% of the global disclosed value through 79 transactions, which constitute 33% of globally announced deals.
LNG exports experienced a decline, diminishing to 99.7 MMt in Q2 2024, which represents a reduction of 9.1 MMt or 8.4% compared to the 108.8 MMt recorded in Q1 2024. This decrease can be attributed to a combination of geopolitical tensions and unexpected outages, both of which have contributed to increased inconsistency in production levels.

Global Oil and Gas M&A Outlook–Q2 2024

The Kroll Oil and Gas team understands the idiosyncrasies of the global sector and offers following knowledge through this report. (i) Project and structured commodity finance advisory and asset-based lending advisory. (ii) Joint venture audits, financial joint venture management and preparation of cost certificates. (iii) Valuation of Exploration & Production assets, commercial contracts, etc. and (iv) Development or tariff/rate models for midstream and downstream assets.

We hope you find this report helpful in understanding the current trends in the global oil and gas sector. If you would like to receive further information or discuss any of the findings, please contact us.


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