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Eversource Energy acquired Columbia Gas

US oil & gas industry sees a drop of 28.2 per cent in deal activity

, April 5, 2020

The US oil & gas industry saw a drop of 28.2 per cent in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
 
A total of 56 deals worth $2.69 billion were announced in February 2020, compared to the 12-month average of 78 deals.
 
M&A was the leading category in the month in terms of volume with 32 deals which accounted for 57.1 per cent of all deals.
 
In second place was venture financing with 20 deals, followed by private equity with four transactions, respectively accounting for 35.7 per cent and 7.1 per cent of overall deal activity in the country’s oil & gas industry during the month.
 
In terms of value of deals, M&A was the leading deal category in the US oil & gas industry with total deals worth $2.04 billion, while private equity and venture financing deals totalled $400 million and $248.85 million, respectively.
 
The top five oil & gas industry deals accounted for 76.5 per cent of the overall value during February 2020.
 
The combined value of the top five oil & gas deals stood at $2.06 billion, against the overall value of $2.69 billion recorded for the month.
 
The top five oil & gas industry deals of February 2020 tracked by GlobalData were:
Eversource Energy’s $1.1 billion acquisition of Columbia Gas of Massachusetts;
The $400 million private equity deal with CenterPoint Energy Services by Energy Capital Partners;
WaterBridge Resources’ $225 million asset transaction with Centennial Resource Development;
The $175 million acquisition of Atlantic Coast Pipeline by Dominion Energy;
Schweitzer-Mauduit International’s asset transaction with Tekra and TRIENT for $155 million. -- Tradearabia News Service
 



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