US oil & gas industry sees a drop of 28.2% in deal activity in February 2020

23 March 2020 (Last Updated March 23rd, 2020 14:41)

US oil & gas industry sees a drop of 28.2% in deal activity in February 2020

The US oil & gas industry saw a drop of 28.2% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 56 deals worth $2.69bn were announced in February 2020, compared to the 12-month average of 78 deals.

M&A was the leading category in the month in terms of volume with 32 deals which accounted for 57.1% of all deals.

In second place was venture financing with 20 deals, followed by private equity with four transactions, respectively accounting for 35.7% and 7.1% 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 $2.04bn, while private equity and venture financing deals totalled $400m and $248.85m, respectively.

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

The top five oil & gas industry deals accounted for 76.5% of the overall value during February 2020.

The combined value of the top five oil & gas deals stood at $2.06bn, against the overall value of $2.69bn recorded for the month.

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

1) Eversource Energy’s $1.1bn acquisition of Columbia Gas of Massachusetts

2) The $400m private equity deal with CenterPoint Energy Services by Energy Capital Partners

3) WaterBridge Resources’ $225m asset transaction with Centennial Resource Development

4) The $175m acquisition of Atlantic Coast Pipeline by Dominion Energy

5) Schweitzer-Mauduit International’s asset transaction with Tekra and TRIENT for $155m.

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.