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Report: Midstream Megadeals Dominated Q3

The Pittsburgh Post-Gazette reports that "in the oil and gas sector, megadeals — those valued more than $1 billion — among midstream companies dominated deals in the third quarter despite a slowdown in capital markets, according to a report from PricewaterhouseCoopers US."  

"Overall, there were 14 deals in the midstream space — companies that deal with pipelines and storage — accounting for $63.5 billion in the third quarter, or 70 percent of overall deal value, according to PwC."  

“'These megadeals are driven by the objectives of gaining the benefit of scale, synergies and expected growth in distributions/dividends at a time when U.S. onshore production levels have started to decline,' said Doug Meier, PwC’s US oil and gas sector deals leader."

Topics: news