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  1. Deals Analysis
March 21, 2019updated 22 Mar 2019 5:34am

US oil & gas industry sees a drop of 31% in deal activity in February 2019

By Carmen

The US oil & gas industry saw a drop of 31% in overall deal activity during February 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 $4.92bn were announced in February 2019, compared to the 12-month average of 84 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 12 deals, followed by venture financing with three transactions, respectively accounting for 20.7% and 5.2% 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 $2.81bn, while private equity and venture financing deals totalled $2.11bn and $5.13m, respectively.

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

The top five oil & gas industry deals accounted for 62.8% of the overall value during February 2019.

The combined value of the top five oil & gas industry deals stood at $3.09bn, against the overall value of $4.92bn recorded for the month. The top announced US oil & gas industry deal tracked by GlobalData in February 2019 was Blackstone Tactical Opportunities Advisors and GSO Capital Partners’ $1.6bn private equity deal with Targa Badlands.

In second place was the $500m private equity deal with Three Rivers Natural Resource Holdings IV by Riverstone Holdings and in third place was Noble Midstream Partners’ $350m asset transaction with EPIC Midstream Holdings.

The $340m acquisition of Actagro by Nutrien and EnCap Investments’ private equity deal with Pegasus Resources for $300m 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.

Verdict makes every effort to ensure the accuracy of its deals information. If you spot a mistake, or would like to notify us of a deal which should be included in this analysis, please email us at deals@globaldata.com

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.

 

Related Companies

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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