Citi and Evercore Top M&A Financial Advisers in Oil and Gas Sector in H1 2024

Citi and Evercore were the top mergers and acquisitions (M&A) financial advisers in the oil and gas sector during the first half (H1) of 2024 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data analytics company.

An analysis of GlobalData’s Deals Database has revealed that Citi achieved its leading position in terms of value by advising on $48 billion worth of deals. Meanwhile, Evercore led in terms of volume by advising on a total of 14 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “While both Citi and Evercore showcased year-on-year improvement in terms of value and volume, respectively, in H1 2024, the jump in total deal value was massive for Citi. The total value of deals advised by Citi registered more than a 10-fold jump during H1 2024 compared to H1 2023. Consequently, its ranking by value also took a big leap from 17th position in H1 2023 to the top position in H1 2024.

“During the review period, Citi advised on five billion-dollar deals*, which also included two mega deals valued at more than $10 billion. Involvement in these big-ticket deals helped Citi register a massive jump in terms of value as well as its ranking by this metric.

“Meanwhile, Evercore’s ranking by volume improved from fifth position in H1 2023 to the top position in H1 2024. Apart from leading by volume, it also occupied the third position by value during the review period.”

JP Morgan occupied the second position in terms of value, by advising on $41.8 billion worth of deals, followed by Evercore with $37.2 billion, Morgan Stanley with $36.1 billion, and Jefferies with $35.7 billion.

Meanwhile, Jefferies occupied the second position in terms of volume with 11 deals, followed by RBC Capital Markets with nine deals, Barclays with eight deals, and Wells Fargo with seven deals.