Goldman Sachs Tops Q1 2026 Oil & Gas M&A with $64.7B in Deals
Goldman Sachs led Q1 2026 oil and gas M&A advisory by deal value, advising on $64.7bn of transactions. This performance marked a jump from ninth position in Q1 2025, driven largely by its role in the $58bn Coterra Energy–Devon Energy merger.
1. Q1 2026 Oil and Gas M&A Rankings
Goldman Sachs led the oil and gas M&A advisory league by deal value in Q1 2026 with $64.7bn. Evercore followed closely at $64.4bn, while JPMorgan secured third place with $58.5bn, and Barclays and Morgan Stanley reported $7.9bn and $6.9bn respectively.
2. Surge Driven by Coterra Energy–Devon Energy Merger
Goldman Sachs’ leap from ninth in Q1 2025 to first in Q1 2026 was primarily driven by its advisory role in the $58bn Coterra Energy–Devon Energy merger, representing the largest single transaction in the quarter.
3. Peer Performance and Volume Leadership
Evercore and Houlihan Lokey led deal volume with four transactions each, while Goldman Sachs advised on three deals, ranking third in volume. Barclays and Jefferies rounded out the top five by volume with three deals apiece.