North America’s oil & gas industry saw a drop of 38.1% in deal activity during February 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 65 oil & gas industry deals worth $4.98bn were announced for the region in February 2019, against the 12-month average of 105 deals.

Of all the deal types, M&A saw most activity in February 2019 with 50 transactions, representing a 76.9% share for the region.

In second place was private equity with 12 deals, followed by venture financing deals with three transactions, respectively capturing an 18.5% and 4.6% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in North America’s oil & gas industry with $2.81bn, while M&A and venture financing deals totalled $2.17bn and $5.13m, respectively.

North America oil & gas industry deals in February 2019: Top deals

The top five oil & gas deals accounted for 62.02% of the overall value during February 2019.

The combined value of the top five oil & gas deals stood at $3.09bn, against the overall value of $4.98bn recorded for the month. The top announced oil & gas deal tracked by GlobalData in February 2019 was Blackstone Tactical Opportunities Advisors and GSO Capital Partners’ $1.6bn private equity deal with Targa Badlands.

In second place was the $500m private equity deal with Three Rivers Natural Resource Holdings IV by Riverstone Holdings and in third place was Noble Midstream Partners’ $350m asset transaction with EPIC Midstream Holdings.

The $340m acquisition of Actagro by Nutrien and EnCap Investments’ private equity deal with Pegasus Resources for $300m held fourth and fifth positions, respectively.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.