US oil & gas industry sees a drop of 23.2% in deal activity in August 2019

20 September 2019 (Last Updated September 20th, 2019 12:46)

US oil & gas industry sees a drop of 23.2% in deal activity in August 2019

The US oil & gas industry saw a drop of 23.2% in overall deal activity during August 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

  • Embed this chart

    Embed this chart into your website

    Copy and paste the code below into your website to display the chart.

A total of 63 deals worth $14.23bn were announced in August 2019, compared to the 12-month average of 82 deals.

M&A was the leading category in the month in terms of volume with 46 deals which accounted for 73.02% of all deals.

In second place was private equity with ten deals, followed by venture financing with seven transactions, respectively accounting for 15.9% and 11.1% of overall deal activity in the country’s oil & gas industry during the month.

In terms of value of deals, M&A was the leading deal category in the US oil & gas industry with total deals worth $12.39bn, while private equity and venture financing deals totalled $1.75bn and $86.65m, respectively.

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

The top five oil & gas industry deals accounted for 82.2% of the overall value during August 2019.

The combined value of the top five oil & gas deals stood at $11.7bn, against the overall value of $14.23bn recorded for the month.

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

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

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

3) The $1.7bn merger of PDC Energy and SRC Energy

4) The $1.55bn asset transaction with Kinder Morgan by Pembina Pipeline

5) SK Capital Partners’s private equity deal with PolyOne for $775m.

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.