US oil & gas industry sees a drop of 14.93% in deal activity in February 2021

27 March 2021 (Last Updated March 27th, 2021 18:05)

US oil & gas industry saw a drop of 14.93% in overall deal activity during February 2021, when compared with the last 12-month average, led by Energy Transfer’s $7.2bn acquisition of Enable Midstream Partners, according to GlobalData’s deals database.

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A total of 57 deals worth $17.5bn were announced in February 2021, compared with the 12-month average of 67 deals.

M&A was the leading category in the month in terms of volume with 35 deals, which accounted for 61.4% of all deals.

In second place was venture financing with 17 deals, followed by private equity with five transactions, respectively accounting for 29.8% and 8.8% 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 $11.14bn, while private equity and venture financing deals totalled $6.2bn and $162.68m respectively.

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

The top five oil & gas industry deals accounted for 87.8% of the overall value during February 2021.

The combined value of the top five oil & gas deals stood at $15.38bn, against the overall value of $17.5bn recorded for the month.

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

1) Energy Transfer’s $7.2bn acquisition of Enable Midstream Partners

2) The $5.2bn private equity deal with Natural Gas Pipelineof America LLC by ArcLight Capital Partners

3) Lanxess’ $1.08bn acquisition of Emerald Kalama Chemical

4) The $1bn private equity deal with Flow Control Group by KKRInc

5) Grayson Mill Energy’s asset transaction with Equinor Energy for $900m.