West Texas Intermediate (WTI) decreased by 4.7% over Q2 2019, negatively impacting the overall sector. The sector (down 8.9%, vs. up 23.3% for 1Q-19) saw an overall decrease in Q2 2019. The worst performers were equipment- focused OFS (down 18.6%) and drilling (down 18.4%). Over the same period, the best performing sectors were offshore transportation (up 18.8%) and national oil companies (up 3.3%). Positive Q1 2019 market sentiment did not translate into increased deal- making, resulting in only two deals closing in Q2 2019.
For more detailed Q2 2019 trading multiples for individual oil and gas companies or for a more detailed view on potential acquisition targets across the Americas, please contact one of our professionals.
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