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  1. Deals Analysis
April 24, 2019

US oil & gas industry sees a drop of 31.8% in deal activity in March 2019

The US oil & gas industry saw a drop of 31.8% in overall 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 58 deals worth $5.37bn were announced in March 2019, compared to the 12-month average of 85 deals.

M&A was the leading category in the month in terms of volume with 43 deals which accounted for 74.1% of all deals.

In second place was private equity with nine deals, followed by venture financing with six transactions, respectively accounting for 15.5% and 10.3% of overall deal activity in the country’s oil & gas industry during the month.

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In terms of value of deals, M&A was the leading deal category in the US oil & gas industry with total deals worth $4.09bn, while private equity and venture financing deals totalled $1.27bn and $10.38m, respectively.

US oil & gas industry deals in March 2019: Top deals

The top five US oil & gas industry deals accounted for 79.5% of the overall value during March 2019.

The combined value of the top five US oil & gas industry deals stood at $4.27bn, against the overall value of $5.37bn recorded for the month. The top announced US oil & gas industry 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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