BAKU, Azerbaijan, April 9
By Leman Zeynalova - Trend:
The overall value of oil and gas industry merger and acquisition (M&A) deals in the US in February 2020 stood at $2.04 billion, Trend reports citing GlobalData.
The value marked a decrease of 47.4 percent over the previous month and a drop of 86 percent when compared with the last 12-month average of $14.52 billion.
The US held a 36.4 percent share of the global oil & gas industry M&A deal value that totalled $5.6 billion in February 2020.
In terms of deal activity, the US recorded 32 deals during February 2020, marking a decrease of 11.1 percent over the previous month and a drop of 43.9 percent over the 12-month average.
The top five oil & gas industry M&A deals accounted for 88.9 percent of the overall value during February 2020.
The combined value of the top five oil & gas M&A deals stood at $1.81 billion, against the overall value of $2.04 billion recorded for the month.
The top five oil & gas industry deals of February 2020 tracked by GlobalData were:
Eversource Energy’s $1.1bn acquisition of Columbia Gas of Massachusetts
The $225m asset transaction with Centennial Resource Development by WaterBridge Resources
Dominion Energy’s $175m acquisition of Atlantic Coast Pipeline
The $155m asset transaction with Magellan Midstream Partners, Plains All American Pipeline and Western Midstream Partners by Greenfield Midstream
Schweitzer-Mauduit International’s acquisition of Tekra and TRIENT for $155m.
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Follow the author on Twitter: @Lyaman_Zeyn