27 Apr 2020
Posted in Oil & Gas
Evercore was top global M&A financial adviser in oil and gas sector in Q1 2020, says GlobalData
Evercore was the top global mergers and acquisitions (M&A) financial adviser in the oil and gas sector by both value and volume in Q1, 2020, according to GlobalData, a leading data analytics company. The firm took the top spot with seven deals worth US$4.81bn.
GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world, confirmed that Lazard finished at second position (by value as well as volume) with five deals worth US$4.79bn. Citi and Guggenheim Capital jointly occupied the third position in value terms, while Goldman Sachs occupied the third spot, in terms of volume, followed by ABN AMRO.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, says: “Fewer billion-dollar deals (worth more than US$1bn) led to a drop in overall deal value in the oil and gas sector in Q1 2020. This could be attributed to the outbreak of COVID-19, which added further woes to an industry that was already facing challenges related to oversupply and declining prices. None of the top ten advisers had double-digit deal volume, while in value terms, only five managed to cross the US$1bn mark.”
Global oil and gas deals market in 2020
On the back of the COVID-19 outbreak, deal activity dwindled, and the oil and gas sector witnessed a decline of 40.84% in deal value from US$43.5bn in Q1 2019 to US$25.7bn in Q1 2020. Deal volume decreased by 32.56% from 516 to 348.