US oil & gas industry sees 22.7% drop in deal activity over November 2020

15 December 2020 (Last Updated December 15th, 2020 14:37)

The US oil & gas industry saw a drop of 22.7% in overall deal activity during November 2020, when compared with the last 12-month average, according to GlobalData's deals database.

US oil & gas industry sees 22.7% drop in deal activity over November 2020

The US oil & gas industry saw a drop of 22.7% in overall deal activity during November 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 51 deals worth $2.95bn were announced in November 2020, compared to the 12-month average of 66 deals.

M&A was the leading category in the month in terms of volume with 39 deals which accounted for 76.5% of all deals.

In second place was venture financing with nine deals, followed by private equity with three transactions, respectively accounting for 17.7% and 5.9% 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 $1.84bn, while private equity and venture financing deals totalled $1.09bn and $24.78m, respectively.

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

The top five oil & gas industry deals accounted for 82.9% of the overall value during November 2020.

The combined value of the top five oil & gas deals stood at $2.45bn, against the overall value of $2.95bn recorded for the month.

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

1) Oaktree Capital Management’s $900m private equity deal with FourPass Energy

2) The $580m acquisition of Buchanan Energy by Casey’s General Stores

3) INEOS Olefins & Polymers USA’s $404m acquisition of Gemini HDPE

4) The $376m acquisition of HighPoint Resources by Bonanza Creek Energy

5) Juniper Capital Advisors’ private equity deal with Penn Virginia for $188.4m.

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.