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US oil and gas industry sees 28.2% drop in deal activity

Published by , Editorial Assistant
Hydrocarbon Engineering,

The US oil and gas industry saw a drop of 28.2% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

A total of 56 deals worth US$2.69 billion were announced in February 2020, compared to the 12-month average of 78 deals.

Mergers and acquisitions (M&A) was the leading category in the month in terms of volume with 32 deals which accounted for 57.1% of all deals.

In second place was venture financing with 20 deals, followed by private equity with four transactions, respectively accounting for 35.7% and 7.1% of overall deal activity in the country’s oil and gas industry during the month.

In terms of value of deals, M&A was the leading deal category in the US oil and gas industry with total deals worth US$2.04 billion, while private equity and venture financing deals totalled US$400 million and US$248.85 million, respectively.

The top five oil and gas industry deals accounted for 76.5% of the overall value during February 2020.

The combined value of the top five oil and gas deals stood at US$2.06 billion, against the overall value of US$2.69 billion recorded for the month.

The top five oil and gas industry deals of February 2020 tracked by GlobalData were:

  • Eversource Energy’s US$1.1 billion acquisition of Columbia Gas of Massachusetts.
  • The US$400 million private equity deal with CenterPoint Energy Services by Energy Capital Partners.
  • WaterBridge Resources’ US$225 million asset transaction with Centennial Resource Development.
  • The US$175 million acquisition of Atlantic Coast Pipeline by Dominion Energy.
  • Schweitzer-Mauduit International’s asset transaction with Tekra and TRIENT for US$155 million.

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