Oil & gas industry M&A deals in August 2020 total $24.3bn in US

25 September 2020 (Last Updated September 25th, 2020 14:25)

Oil & gas industry M&A deals in August 2020 total $24.3bn in US

Total oil & gas industry M&A deals in August 2020 worth $24.3bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 2.8% over the previous month and a rise of 207.6% when compared with the last 12-month average of $7.9bn.

The US held an 89.4% share of the global oil & gas industry M&A deal value that totalled $27.19bn in August 2020.

In terms of deal activity, the US recorded 42 deals during August 2020, marking a flat growth over the previous month and a drop of 10.6% over the 12-month average.

The US oil & gas industry M&A deals in August 2020: Top deals

The top five oil & gas industry M&A deals accounted for 98.1% of the overall value during August 2020.

The combined value of the top five oil & gas M&A deals stood at $23.85bn, against the overall value of $24.3bn recorded for the month.

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

1) 7-Eleven’s $21bn acquisition of Speedway

2) The $1.33bn asset transaction with Occidental Petroleum by Orion Mine Finance

3) Southwestern Energy’s $863.87m acquisition of Montage Resources

4) The $448m acquisition of OneStimSM by Liberty Oilfield Services

5) Evonik Industries’ acquisition of Porocel for $210m.

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.