30 Jul 2020
Posted in Business Fundamentals
Simpson Thacher & Bartlett and Baker Botts were top legal advisers by value and volume in global oil and gas sector in H1 2020, says GlobalData
Simpson Thacher & Bartlett and Baker Botts were noted to be the top mergers and acquisitions (M&A) legal advisers in the global oil and gas sector in the first half (H1) of 2020, based on deal value and volume, respectively. Simpson Thacher & Bartlett advised on one deal worth US$10.1bn, which was the highest among all the advisers. Meanwhile, Baker Botts led in volume terms having advised on 13 deals worth US$5.2bn during H1, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, comments: “Baker Botts was the only advisor to see double-digit deal volume, however, the company still lost the top position by value to Simpson Thacher & Bartlett, which advised on only one deal but a megadeal worth less than or equal to US$10bn.”
Allen & Overy occupied the second position by value with five deals worth US$5.4bn. Vinson & Elkins occupied the second position by volume with nine deals worth US$1.1bn followed by Jones Day with eight deals worth US$3.7bn.
On the back of COVID-19 outbreak, the number of deals announced in the global oil and gas sector decreased by 29.3% from 1,023 in H1 2019 to 723 in H1 2020, according to GlobalData’s Financial Deals Database. Deal value also decreased by 76.2% from US$189.6bn in H1 2019 to US$45.2bn in H1 2020.
Simpson Thacher & Bartlett, which topped the oil and gas sector deals league table by value, stood at eighth position (by value) in the recently released global league table of top 20 M&A legal advisers by GlobalData.