A total of 362 deals with a combined value of around $80 billion were registered in the global upstream oil and gas industry in the third quarter of 2018, according to GlobalData, a U.K.-based data and analytics company on Wednesday.
The company said out of the total value, $44.5 billion was registered in mergers and acquisitions (M&A) in the third quarter of this year. This represents a significant increase of 77 percent from the $25.1 billion in M&A deals announced in the second quarter. "On the capital raising front, a total value of $36.5 billion in capital raising was announced in the upstream sector in the third quarter of 2018, an increase of 19 percent from the $30.7 billion in capital raising announced in the previous quarter," GlobalData said.
According to GlobalData, of the total M&A deals, 156 deals, with a combined value of $37.5 billion, were U.K. acquisitions and the remaining 43, with a combined value of $7 billion, were cross-border transactions.
