There were 304 transactions in the North American Oil & Gas sector in second quarter of 2020, including 71 private placements, 128 public offerings, 41 mergers & acquisitions, 4 buybacks and 60 shelf registrations, with a total value of C$182.4 billion. Total deal volume increased by 3% over the second quarter of 2019 and transaction value decreased by 39%.

Notable Transactions

On April 13, 2020 Exxon Mobil announced raise of $9.5 billion in new debt. Exxon Mobile sold five different bonds with a variety of durations ranging from five years to 31 years. The deal was oversubscribed from the original $9 billion, indicating robust investor demand.

On May 22, 2020 Suncor Energy announced a $7 billion shelf registration.

In June PG&E Corp completed a public offering of C$5.5 billion and announced a private placement of C$4.4 billion.

Calculations include asset purchases and sales, joint ventures and minority and majority shareholdings that disclosed a transaction value and were announced within the time frame. Cancelled transactions were excluded. Exchange rates based on historical figures.

Sources: Capital IQ, analyst research.

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