North America’s oil & gas industry saw a drop of 29.4% in overall deal activity during Q1 2020, when compared to the four-quarter average, according to GlobalData’s deals database.
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A total of 209 deals worth $12.21bn were announced for the region during Q1 2020, against the last four-quarter average of 296 deals.
Of all the deal types, M&A saw most activity in Q1 2020 with 127, representing a 60.8% share for the region.
In second place was venture financing with 70 deals, followed by private equity deals with 12 transactions, respectively capturing a 33.5% and 5.7% share of the overall deal activity for the quarter.
In terms of value of deals, M&A was the leading category in North America’s oil & gas industry with $10.04bn, while private equity and venture financing deals totalled $1.3bn and $867.06m, respectively.
North America oil & gas industry deals in Q1 2020: Top deals
The top five oil & gas deals accounted for 54.1% of the overall value during Q1 2020.
The combined value of the top five oil & gas deals stood at $6.61bn, against the overall value of $12.21bn recorded for the quarter.
The top five oil & gas industry deals of Q1 2020 tracked by GlobalData were:
1) Illuminate Buyer’s $2.73bn acquisition of Lummus Technology
2) The $1.88bn merger of EQM Midstream Partners and Equitrans Midstream by
3) Eversource Energy’s $1.1bn acquisition of Columbia Gas of Massachusetts
4) The $500m private equity deal with Tatanka Midstream by EnCap Flatrock Midstream
5) Energy Capital Partners’ private equity deal with CenterPoint Energy Services for $400m.
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.