Total oil & gas industry deals for June 2019 worth $10.27bn were announced globally, according to GlobalData’s deals database.

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The value marked a decrease of 79.7% over the previous month and a drop of 78.7% when compared with the last 12-month average of $48.3bn.

In terms of number of deals, the sector saw a drop of 42.9% over the last 12-month average with 112 deals against the average of 196 deals.

In value terms, North America led the activity with deals worth $7.22bn.

Oil & gas industry deals in June 2019: Top deals

The top five oil & gas deals accounted for 54.4% of the overall value during June 2019.

The combined value of the top five oil & gas deals stood at $5.59bn, against the overall value of $10.27bn 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 $800m asset transaction with New Age (African Global Energy) by Lukoil Upstream Congo SAU and PTT Exploration and Production Public’s acquisition of Partex Holding for $622m 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.