US oil & gas industry saw a drop of 16.67% in overall deal activity during July 2021, when compared with the last 12-month average, led by WildFire Energy I’s $650m acquisition of Hawkwood Energy, according to GlobalData’s deals database.
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A total of 40 deals worth $3.2bn were announced in July 2021, compared with the 12-month average of 48 deals.
M&A was the leading category in the month in terms of volume with 31 deals, which accounted for 77.5% of all deals.
In second place was venture financing with six deals, followed by private equity with three transactions, respectively accounting for 15% and 7.5% 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 $2.12bn, while private equity and venture financing deals totalled $572m and $460.87m, respectively.
US oil & gas industry deals in July 2021: Top deals
The top five oil & gas industry deals accounted for 68.4% of the overall value during July 2021.
The combined value of the top five oil & gas deals stood at $2.16bn, against the overall value of $3.2bn recorded for the month.
The top five oil & gas industry deals of July 2021 tracked by GlobalData were:
1) Hawkwood Energy $650m acquisition deal with WildFire Energy I
2) The $430m venture financing of Pivot Bio by Breakthrough Energy Ventures,Bunge Ventures,Continental Grain,DCVC Management Co,G2VP,Generation Investment Management,Pavilion Capital,Prelude Ventures,Rockefeller Capital Management,Roger Underwood,Tekfen Ventures and Temasek Holdings (Private)
3) Kraken Resources II $400m private equity deal with Kayne Anderson Capital Advisors
4) Lonestar Resources US $370m acquisition deal with Penn Virginia
5) The $310m acquisition of Kinetrex Energy by Kinder Morgan
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.