US oil & gas industry sees a drop of 32.9% in deal activity in June 2020

22 July 2020 (Last Updated July 22nd, 2020 17:40)

US oil & gas industry sees a drop of 32.9% in deal activity in June 2020

The US oil & gas industry saw a drop of 32.9% in overall deal activity during June 2020, 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 47 deals worth $6.23bn were announced in June 2020, compared to the 12-month average of 70 deals.

M&A was the leading category in the month in terms of volume with 35 deals which accounted for 74.5% of all deals.

In second place was venture financing with ten deals, followed by private equity with two transactions, respectively accounting for 21.3% and 4.3% 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 $5.95bn, followed by private equity deals totalled $280.11m.

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

The top five oil & gas industry deals accounted for 93.4% of the overall value during June 2020.

The combined value of the top five oil & gas deals stood at $5.82bn, against the overall value of $6.23bn recorded for the month.

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

1) Ineos Group’s $5bn asset transaction with BP

2) The $402m acquisition of Antero Resources by TPG Sixth Street Partners

3) Hilco Redevelopment Partners’ $225.5m asset transaction with Philadelphia Energy Solutions

4) The $100m asset transaction with Black Stone Minerals by Pegasus Resources

5) Presidio Petroleum’s asset transaction with Templar Energy for $91m.

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.