US oil & gas industry sees a drop of 3.03% in deal activity in September 2020

26 October 2020 (Last Updated October 26th, 2020 20:32)

US oil & gas industry sees a drop of 3.03% in deal activity in September 2020

The US oil & gas industry saw a drop of 3.03% in overall deal activity during September 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 64 deals worth $7.24bn were announced in September 2020, compared to the 12-month average of 66 deals.

M&A was the leading category in the month in terms of volume with 35 deals which accounted for 54.7% of all deals.

In second place was venture financing with 22 deals, followed by private equity with seven transactions, respectively accounting for 34.4% and 10.9% 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 $6.77bn, while private equity and venture financing deals totalled $425m and $42.91m, respectively.

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

The top five oil & gas industry deals accounted for 93.05% of the overall value during September 2020.

The combined value of the top five oil & gas deals stood at $6.74bn, against the overall value of $7.24bn recorded for the month.

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

1) Merger of Devon Energy and WPX Energy for $5.35bn

2) The $620m asset transaction with Dow by Vopak Industrial Infrastructure Americas

3) Abu Dhabi Investment Authority’s $615m acquisition of Cheniere Energy

4) The $115.5m asset transaction with Approach Resources by Zarvona III-A

5) Pelican Energy Partners’ asset transaction with Baker Hughes for $32.5m.

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.