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  1. Deals Analysis
July 16, 2019

Oil & gas industry M&A deals in June 2019 total $5.74bn in US

Total oil & gas industry M&A deals in June 2019 worth $5.74bn were announced in the US, according to GlobalData’s deals database.

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The value marked a decrease of 72.2% over the previous month and a drop of 76.3% when compared with the last 12-month average of $24.24bn.

The US held a 63.3% share of the global oil & gas industry M&A deal value that totalled $9.07bn in June 2019.

In terms of deal activity, the US recorded 36 deals during June 2019, marking a decrease of 29.4% over the previous month and a drop of 48.6% over the 12-month average.

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The US oil & gas industry M&A deals in June 2019: Top deals

The top five oil & gas industry M&A deals accounted for 87.6% of the overall value during June 2019.

The combined value of the top five oil & gas industry M&A deals stood at $5.03bn, against the overall value of $5.74bn recorded for the month. The top announced oil & gas industry M&A deal tracked by GlobalData in June 2019 was Comstock Resources’ $2.2bn acquisition of Covey Park Energy.

In second place was the $1bn asset transaction with Royal Dutch Shell by PBF Energy and in third place was the $966m merger of NRC Group and US Ecology.

The $450m asset transaction with Armstrong Energy and GMT Exploration Co by Oil Search and Archrock’s acquisition of Elite Compression Services for $410m held fourth and fifth positions, respectively.

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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