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Deal activity down in US oil & gas industry

Oil&Gas Materials 24 February 2020 17:43 (UTC +04:00)
Deal activity down in US oil & gas industry

BAKU, Azerbaijan, Feb.24

By Leman Zeynalova - Trend:

Deal activity in the US oil and gas industry went down by 11.7 percent in January 2020, compared with the last 12-month average, Trend reports citing GlobalData.

As GlobalData says, the number of deals in the country’s oil and gas industry stood at 68 deals worth $4.46 billion in January 2020, compared to the 12-month average of 77 deals.

Mergers and acquisitions (M&A) was the leading category in the month in terms of volume with 42 deals which accounted for 61.8 percent of all deals.

In second place was venture financing with 24 deals, followed by private equity with two transactions, respectively accounting for 35.3 percent and 2.9 percent 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 $3.87 billion, while private equity and venture financing deals totalled $400 million and $191.41 million, respectively.

Top 5 deals in the US oil and gas industry in January 2020 are as follows: Illuminate Buyer’s $2.73bn acquisition of Lummus Technology; The $400 million private equity deal with Edgewater Midstream by EnCap Flatrock Midstream; BCE-Mach III’s $320m asset transaction with Alta Mesa Resources and Kingfisher Midstream; The $278 million asset transaction with Savage Inland Marine by Kirby; Buckeye Partners’ asset transaction with Magellan Midstream Partners for $250 million.

The top five oil & gas industry deals accounted for 89.03 percent of the overall value during January 2020.

The combined value of the top five oil & gas deals stood at $3.97 billion, against the overall value of $4.46 billion recorded for the month.

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Follow the author on Twitter:@Lyaman_Zeyn

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