US sees 54.4% increase in oil &gas industry merger and acquisition deals
Baku, Azerbaijan, Aug.22
By Leman Zeynalova – Trend:
US saw a 54.4 percent increase in oil and gas industry merger and acquisition (M&A) deals month-on-month, Trend reports citing GlobalData, a leading data and analytics company.
Total oil and gas industry M&A deals in July 2019 worth $9.89 billion were announced in the US, which marked an increase of 54.4 percent over the previous month and a drop of 58.8 percent when compared with the last 12-month average of $23.98 billion, reads the report.
The US held a 51.1 percent share of the global oil & gas industry M&A deal value that totalled $19.36 billion in July 2019.
In terms of deal activity, the US recorded 44 deals during July 2019, marking a decrease of 6.4 percent over the previous month and a drop of 34.3 percent over the 12-month average.
The top five oil and gas industry M&A deals in the US accounted for 84.2 percent of the overall value during July 2019.
The combined value of the top five oil and gas M&A deals stood at $8.33 billion, against the overall value of $9.89 billion recorded for the month.
The top five oil and gas industry deals of July 2019 tracked by GlobalData were:
Callon Petroleum’s $4.92 billion acquisition of Carrizo Oil & Gas
The $1.28 billion acquisition of Columbia Midstream Group by UGI
Synthomer’s $824 million acquisition of Omnova Solutions
The $700 million acquisition of Diamondback Energy by Viper Energy Partners
Osaka Gas’ acquisition of Sabine Oil & Gas for $610 million.
Follow the author on Twitter: @Lyaman_Zeyn