June 2009

Trends and Resources

HP Impact: HPImpact: Mergers, acquisitions in global oil and gas markets slump

Deal activity in the energy sector offered a schizophrenic character in 2008. The first half of the year started with a fairly robust number of transactions, until commodity prices began a steep decli..

Weirauch, Wendy, Hydrocarbon Processing Staff

Deal activity in the energy sector offered a schizophrenic character in 2008. The first half of the year started with a fairly robust number of transactions, until commodity prices began a steep decline. Then, mergers and acquisitions (M&As) slid alongside them. By the fourth quarter, deal activity had all but dried up, with several potential deals being canceled and no new major deals announced. "The increase in deal numbers was wholly attributable to upstream activity and smaller deals below $0.5 billion," according to a report from PricewaterhouseCoopers (PwC). In contrast, there were significant falls in the number of larger value deals and a big falling-off of very large deals. Only t

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