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  1. Deals Analysis
July 15, 2019

North America’s oil & gas industry sees a drop of 46.7% in deal activity in June 2019

North America’s oil & gas industry saw a drop of 46.7% in deal activity during June 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 57 oil & gas industry deals worth $7.22bn were announced for the region in June 2019, against the 12-month average of 107 deals.

Of all the deal types, M&A saw most activity in June 2019 with 42 transactions, representing a 73.7% share for the region.

In second place was venture financing with eight deals, followed by private equity deals with seven transactions, respectively capturing a 14.04% and 12.3% share of the overall deal activity for the month.

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In terms of value of deals, M&A was the leading category in North America’s oil & gas industry with $6.25bn, while private equity and venture financing deals totalled $871.23m and $106.36m, respectively.

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

The top five oil & gas deals accounted for 70.8% of the overall value during June 2019.

The combined value of the top five oil & gas deals stood at $5.12bn, against the overall value of $7.22bn recorded for the month. The top announced oil & gas deal tracked by GlobalData in June 2019 was Comstock Resources’ $2.2bn acquisition of Covey Park Energy.

In second place was the $1bn asset transaction with Royal Dutch Shell by PBF Energy and in third place was the $966m merger of NRC Group and US Ecology.

The $500m private equity deal with Glendale Energy Ventures by TPG Sixth Street Partners and Oil Search’s asset transaction with Armstrong Energy and GMT Exploration Co for $450m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

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.

 

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