The year 2014 will be hard to top in M&A total value activity due to the $38-billion merger of Halliburton and Baker Hughes. A total of 39 oil and gas deals were made, with values greater than $50 million, accounting for $34.5 billion, compared to 70 deals worth $103.5 billion on a sequential basis, and 60 deals worth $26.4 billion in 1Q 2014, according to PwC US. For deals valued at more than $50 million, there were 26 corporate deals worth $30.4 billion verses 13 asset deals worth $4.1 billion in 1Q 2015. Corporate deals represented 67% of the total deal volume and 88% of the total deal value, which included two midstream megadeals (deals valued more than $1 billion) in the quarter. Overall, there were four megadeals worth $23 billion, representing 67% of total deal value.