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  1. Deals Analysis
April 26, 2019

North America’s oil & gas industry sees a drop of 34.9% in deal activity in March 2019

North America’s oil & gas industry saw a drop of 34.9% in deal activity during March 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 69 oil & gas industry deals worth $5.46bn were announced for the region in March 2019, against the 12-month average of 106 deals.

Of all the deal types, M&A saw most activity in March 2019 with 54 transactions, representing a 78.3% share for the region.

In second place was private equity with nine deals, followed by venture financing deals with six transactions, respectively capturing a 13.04% and 8.7% 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 $4.17bn, while private equity and venture financing deals totalled $1.27bn and $10.38m, respectively.

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

The top five oil & gas deals accounted for 78.2% of the overall value during March 2019.

The combined value of the top five oil & gas deals stood at $4.27bn, against the overall value of $5.46bn recorded for the month. The top announced oil & gas deal tracked by GlobalData in March 2019 was Tenaris’ $1.21bn acquisition of IPSCO Tubulars.

In second place was the $1.03bn acquisition of Eureka Midstream Holdings and Hornet Midstream Holdings by EQM Midstream Partners and in third place was TPG Capital’s $930m private equity deal with Goodnight Midstream.

The $700m asset transaction with Tronox by Ineos Group and Diversified Gas & Oil’s asset transaction with Hg Energy II Appalachia for $400m 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.

 

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