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There was a total of 299 mergers and acquisitions in the oil and gas industry in the first six months of the year.
It is one down from the 300 deals in the first half of 2013, according to a report from Deloitte.
However, the value of the mergers and acquisitions in the first half of this year was $141bn – $39bn more than the $102bn that was recorded during the same period last year.
The report said that the number is down on historical averages, and continues a trend seen since a flurry of activity in 2012.
“While a below-average deal count persisted in the latter half of 2013, the decline has begun to slow and may begin to reverse in the second half of 2014,” it added.
Humphry Hatton, CEO of Deloitte Corporate Finance Limited, said: “The uptick in deal activity in June of this year could signify a stronger deal market in the second half of the year.
“Upward pressure on commodity prices is likely to drive more transactions, and private equity investors, in particular, are likely to continue to show interest and be a source of capital.”
