Oil & gas industry M&A deals in July 2020 total $23.61bn in US

3 September 2020 (Last Updated September 3rd, 2020 15:57)

Oil & gas industry M&A deals in July 2020 total $23.61bn in US

Total oil & gas industry M&A deals in July 2020 worth $23.61bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 296.5% over the previous month and a rise of 249.3% when compared with the last 12-month average of $6.76bn.

The US held a 34.8% share of the global oil & gas industry M&A deal value that totalled $67.88bn in July 2020.

In terms of deal activity, the US recorded 37 deals during July 2020, marking a decrease of 14% over the previous month and a drop of 24.5% over the 12-month average.

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

The top five oil & gas industry M&A deals accounted for 99.5% of the overall value during July 2020.

The combined value of the top five oil & gas M&A deals stood at $23.49bn, against the overall value of $23.61bn recorded for the month.

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

1) Chevron’s $13bn acquisition of Noble Energy

2) The $9.7bn acquisition of Dominion Carolina Gas Transmission, Dominion Cove Point LNG, Dominion Energy Transmission, Iroquois Gas Transmission System and Dominion Energy Questar Pipeline by Berkshire Hathaway Energy

3) CNX Resources’ $357m acquisition of CNX Midstream Partners

4) The $335m asset transaction with Range Resources by Castleton Resources

5) AOC’s asset transaction with Ashland Global Holdings for $100m.

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.