US oil and gas deals insights: Q3 2018

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Average deal value in the third quarter hit record highs

Oil & gas deal-making activity kicked off the second half of 2018 on a strong note- announced deal value during the third quarter of 2018 was $122.8 billion, the highest deal value since a record high third quarter of 2014 ($125.7 billion). With deal volumes slightly higher sequentially and within the historic averages, we saw average deal value in the third quarter hit record highs.


Trends and Highlights

  • Total deal volume gained momentum sequentially, although slightly lower than the previous year third quarter. Deal value rebounded strongly, both sequentially and year-over-year.
  • Midstream mega deals of $80.7 billion generated much of this quarter’s deal value as companies in that segment continued to collapse MLPs and roll them into C-corp. structures.
  • Upstream deals helped drive deal volume with 27 deal in the quarter (60% of Deal volume) and added two Mega Deals worth $19.9 billion.
  • Shale continues to be a major contributor to deal-making with the Permian regaining its leading position (5 upstream deals worth $11.5 billion) after giving way to the Bakken and Marcellus in the second quarter.


Contact us

Joe Dunleavy

EU&M Deals Leader, PwC US

Tel: +1 (713) 382 6638

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