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  1. Deals Analysis
July 17, 2019

UK oil & gas industry sees a drop of 24.4% in deal activity in Q2 2019

The UK oil & gas industry saw a drop of 24.4% in overall deal activity during Q2 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 31 deals worth $6.64bn were announced in Q2 2019, compared to the last four-quarter average of 41 deals.

M&A was the leading category in the quarter with 27 deals which accounted for 87.1% of all deals.

In second place was private equity with three deals, followed by venture financing with one transactions, respectively accounting for 9.7% and 3.2% of overall deal activity in the country’s oil & gas industry during the quarter.

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In terms of value of deals, M&A was the leading deal category in the UK oil & gas industry with total deals worth $4.83bn, while private equity and venture financing deals totalled $1.8bn and $7.84m, respectively.

The UK oil & gas industry deals in Q2 2019: Top deals

The top five oil & gas deals accounted for 98.7% of the overall value during Q2 2019.

The combined value of the top five oil & gas industry deals stood at $6.55bn, against the overall value of $6.64bn recorded for the quarter. The top announced UK oil & gas industry deal tracked by GlobalData in Q2 2019 was Chrysaor Holdings’ $2.68bn asset transaction with ConocoPhillips.

In second place was the $2bn acquisition of Chevron North Sea by Ithaca Energy and in third place was KPS Capital Partners’ $1.8bn private equity deal with Howden Group.

The $46.55m stake acquisition of Regal Petroleum by Pelidona Services and Goldlink Capital’s acquisition of Rainbow Leap for $30.51m 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.

 

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