North America’s oil & gas industry sees a drop of 37.9% in deal activity in Q3 2019

27 November 2019 (Last Updated November 27th, 2019 07:11)

North America’s oil & gas industry sees a drop of 37.9% in deal activity in Q3 2019

North America’s oil & gas industry saw a drop of 37.9% in overall deal activity during Q3 2019, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 202 deals worth $36.6bn were announced for the region during Q3 2019, against the last four-quarter average of 325 deals.

Of all the deal types, M&A saw most activity in Q3 2019 with 153, representing a 75.7% share for the region.

In second place was venture financing with 29 deals, followed by private equity deals with 20 transactions, respectively capturing a 14.4% and 9.9% 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 $33.66bn, while private equity and venture financing deals totalled $2.78bn and $160.89m, respectively.

North America oil & gas industry deals in Q3 2019: Top deals

The top five oil & gas deals accounted for 53.05% of the overall value during Q3 2019.

The combined value of the top five oil & gas deals stood at $19.42bn, against the overall value of $36.6bn recorded for the quarter.

The top five oil & gas industry deals of Q3 2019 tracked by GlobalData were:

1) Hilcorp Alaska’s $5.6bn asset transaction with BP

2) The $5.1bn acquisition of SemGroup by Energy Transfer

3) Callon Petroleum’s $4.92bn acquisition of Carrizo Oil & Gas

4) The $2.08bn asset transaction with Huntsman by Indorama Ventures

5) Pembina Pipeline’s acquisition of Kinder Morgan Canada for $1.73bn.

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.