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North America’s oil and gas industry sees 42.7% drop in deal activity

Published by , Senior Editor
World Pipelines,

North America’s oil and gas industry saw a drop of 42.7% in overall deal activity during 2Q20, when compared to the four-quarter average, according to GlobalData’s deals database.

A total of 161 deals worth US$11.04 billion were announced for the region during 2Q20, against the last four-quarter average of 281 deals.

Of all the deal types, M&A saw most activity in Q2 2020 with 105, representing a 65.2% share for the region.

In second place was venture financing with 46 deals, followed by private equity deals with ten transactions, respectively capturing a 28.6% and 6.2% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in North America’s oil & gas industry with US$7.31 billion, while private equity and venture financing deals totalled US$2.81 billion and US$920.77 million, respectively.

The combined value of the top five oil and gas deals stood at US$8.09 billion, against the overall value of US$11.04 billion recorded for the quarter.

The top five oil and gas industry deals of Q2 2020 tracked by GlobalData were:

  • Ineos Group’s US$5 billion asset transaction with BP.
  • The US$1.4 billion private equity deal with CenterPoint Energy by Bluescape Energy Partners, Elliott Management and Fidelity Management & Research.
  • Apollo Global Management, Double Eagle Energy Holdings, FourPoint Energy, Magnetar Capital and Quantum Energy Partners’ US$750 million private equity deal with DoublePoint Energy.
  • The US$541 million asset transaction with Royal Dutch Shell by National Fuel Gas.
  • TPG Sixth Street Partners’ acquisition of Antero Resources for US$402 million.

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