Evaluate Energy’s latest global M&A review shows how easing oil prices prompted a sluggish response among upstream M&A dealmakers in Q3 2019. The quarter saw just US$31 billion in new deals agreed – a 66 per cent drop on Q2 2019 and a 36 per cent decline compared to Q3 2018. The total also stands 21 per cent lower than the average quarterly spend of US$40 million over the past five years.
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