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  1. Deals Analysis
November 14, 2019

US oil & gas industry sees a drop of 45% in deal activity in October 2019

The US oil & gas industry saw a drop of 45% in overall deal activity during October 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 44 deals worth $17.74bn were announced in October 2019, compared to the 12-month average of 80 deals.

M&A was the leading category in the month in terms of volume with 33 deals which accounted for 75% of all deals.

In second place was private equity with six deals, followed by venture financing with five transactions, respectively accounting for 13.6% and 11.4% 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 $16.13bn, while private equity and venture financing deals totalled $1.52bn and $93.29m, respectively.

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

The top five oil & gas industry deals accounted for 79.6% of the overall value during October 2019.

The combined value of the top five oil & gas deals stood at $14.12bn, against the overall value of $17.74bn recorded for the month.

The top five oil & gas industry deals of October 2019 tracked by GlobalData were:

1) Hess Midstream Partners’ $6.2bn acquisition of Hess Infrastructure Partners

2) The $2.65bn asset transaction with Indigo Natural Resources and Momentum Midstream by DTE Energy

3) Parsley Energy’s $2.27bn acquisition of Jagged Peak Energy

4) The $2bn acquisition of Dominion Cove Point LNG by Brookfield Asset Management

5) Citizen Energy Operating’s acquisition of Roan Resources for $1bn.

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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