US oil & gas industry sees a drop of 13.2% in deal activity in August 2020

25 September 2020 (Last Updated September 25th, 2020 14:25)

US oil & gas industry sees a drop of 13.2% in deal activity in August 2020

The US oil & gas industry saw a drop of 13.2% in overall deal activity during August 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 59 deals worth $24.52bn were announced in August 2020, compared to the 12-month average of 68 deals.

M&A was the leading category in the month in terms of volume with 42 deals which accounted for 71.2% of all deals.

In second place was venture financing with 15 deals, followed by private equity with two transactions, respectively accounting for 25.4% and 3.4% 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 $24.3bn, while venture financing deals totalled $214.69m.

US oil & gas industry deals in August 2020: Top deals

The top five oil & gas industry deals accounted for 97.3% of the overall value during August 2020.

The combined value of the top five oil & gas deals stood at $23.85bn, against the overall value of $24.52bn recorded for the month.

The top five oil & gas industry deals of August 2020 tracked by GlobalData were:

1) 7-Eleven’s $21bn acquisition of Speedway

2) The $1.33bn asset transaction with Occidental Petroleum by Orion Mine Finance

3) Southwestern Energy’s $863.87m acquisition of Montage Resources

4) The $448m acquisition of OneStimSM by Liberty Oilfield Services

5) Evonik Industries’ acquisition of Porocel for $210m.

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.