US oil & gas industry deal activity unplugged
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US oil & gas industry sees a drop of 1.49% in deal activity in March 2021

29 Apr 2021

US oil & gas industry sees a drop of 1.49% in  deal activity in March 2021

US oil & gas industry saw a drop of 1.49% in overall deal activity during March 2021, when compared with the last 12-month average, led by Chevron’s $1.32bn acquisition of Noble Midstream Partners, according to GlobalData’s deals database.

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A total of 66 deals worth $5.14bn were announced in March 2021, compared with the 12-month average of 67 deals.

M&A was the leading category in the month in terms of volume with 44 deals, which accounted for 66.7% of all deals.

In second place was venture financing with 19 deals, followed by private equity with three transactions, respectively accounting for 28.8% and 4.6% of overall deal activity in the US technology 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 $3.9bn, while private equity and venture financing deals totalled $1.1bn and $136.19m respectively.

US oil & gas industry deals in March 2021: Top deals

The top five oil & gas industry deals accounted for 93.3% of the overall value during March 2021.

The combined value of the top five oil & gas deals stood at $4.79bn, against the overall value of $5.14bn recorded for the month.

The top five oil & gas industry deals of March 2021 tracked by GlobalData were:

1) Chevron’s $1.32bn acquisition of Noble Midstream Partners

2) The $1.1bn private equity deal with PQ Group Holdings by Cerberus Capital Management and Koch Minerals & Trading

3) The $981m merger of Diamond S Shipping and International Seaways

4) The $880m asset transaction deal with Ovintiv by Validus Energy

5) Oasis Midstream Partners’ acquisition of Beartooth DevCo and Bobcat DevCo for $512.5m.

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.