The U.S. oil and gas industry saw a 13.9% drop in overall deal activity during December 2019, when compared with the latest 12-month average, according to GlobalData’s deals database.
A total of 68 deals worth $17.78 billion were announced in December, compared to the 12-month average of 79 deals, Kallanish Energy reports.
Mergers and acquisitions was the leading category in the month in terms of volume, with 42 deals, or 61.8% of all deals.
In second place was venture financing with 20 deals, followed by private equity with six transactions, accounting for 29.4% and 8.8%, respectively, of overall deal activity in the U.S. oil & gas industry during the month.
In terms of deal value, M&A was the leading deal category in the US oil & gas industry with total deals worth $11.22 billion, while private equity and venture financing deals totaled $5.88 billion and $675.68 million, respectively.
The top five oil & gas industry deals accounted for 81.2% of the overall value during December. The combined value of the top five oil & gas deals totaled $14.44 billion, against the overall value of $17.78 billion recorded for the month.
The top five oil & gas industry deals of December 2019 tracked by GlobalData were:
- Enagas, National Pension Service, The Blackstone Group, GIC and Universities Superannuation Scheme’s $5.69 billion private equity deal with Tallgrass Energy
- The $4.4 billion asset transaction with Ecolab by Apergy
- WPX Energy’s $2.5 billion acquisition of Felix Energy Holdings II
- The $1.08 billion asset transaction with Enbridge by ArcLight Capital Partners and Imm Investment
- Kalnin Ventures’ asset transaction with Devon Energy for $770 million.