UK oil & gas industry sees a drop of 25% in deal activity in Q3 2019

28 November 2019 (Last Updated November 28th, 2019 12:34)

UK oil & gas industry sees a drop of 25% in deal activity in Q3 2019

The UK oil & gas industry saw a drop of 25% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 30 deals worth $1.15bn were announced in Q3 2019, compared to the last four-quarter average of 40 deals.

M&A was the leading category in the quarter with 27 deals which accounted for 90% of all deals.

In second place was venture financing with two deals, followed by private equity with one transactions, respectively accounting for 6.7% and 3.3% of overall deal activity in the country’s oil & gas industry during the quarter.

In terms of value of deals, M&A was the leading deal category in the UK oil & gas industry with total deals worth $1.1bn, while private equity and venture financing deals totalled $47.8m and $3.55m, respectively.

The UK oil & gas industry deals in Q3 2019: Top deals

The top five oil & gas deals accounted for 92.8% of the overall value during Q3 2019.

The combined value of the top five oil & gas deals stood at $1.07bn, against the overall value of $1.15bn recorded for the month.

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

1) HitecVision and Petrogas E&P’s $635m asset transaction with Total

2) The $205.78m asset transaction with Independent Oil and Gas by CalEnergy Resources

3) Quaker Chemical’s $98m asset transaction with Norman Hay

4) The $83.09m acquisition of United Strength Power International by Eternal Global Investments

5) Buckthorn Partners’ private equity deal with Ashtead Technology for $47.8m.

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.