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  1. Deals Analysis
July 16, 2019

US oil & gas industry sees a drop of 47.7% in deal activity in June 2019

The US oil & gas industry saw a drop of 47.7% in overall deal activity during June 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 45 deals worth $6.67bn were announced in June 2019, compared to the 12-month average of 86 deals.

M&A was the leading category in the month in terms of volume with 36 deals which accounted for 80% of all deals.

In second place was venture financing with five deals, followed by private equity with four transactions, respectively accounting for 11.1% and 8.9% of overall deal activity in the country’s oil & gas industry during the month.

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In terms of value of deals, M&A was the leading deal category in the US oil & gas industry with total deals worth $5.74bn, while private equity and venture financing deals totalled $835m and $96.12m, respectively.

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

The top five oil & gas industry deals accounted for 76.7% of the overall value during June 2019.

The combined value of the top five oil & gas industry deals stood at $5.12bn, against the overall value of $6.67bn recorded for the month. The top announced US oil & gas industry deal tracked by GlobalData in June 2019 was Comstock Resources’ $2.2bn acquisition of Covey Park Energy.

In second place was the $1bn asset transaction with Royal Dutch Shell by PBF Energy and in third place was the $966m merger of NRC Group and US Ecology.

The $500m private equity deal with Glendale Energy Ventures by TPG Sixth Street Partners and Oil Search’s asset transaction with Armstrong Energy and GMT Exploration Co for $450m held fourth and fifth positions, respectively.

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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