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  1. Deals Analysis
August 29, 2021

US oil & gas industry sees a drop of 16.67% in deal activity in July 2021

By Nikitha Ladda

US oil & gas industry saw a drop of 16.67% in overall deal activity during July 2021, when compared with the last 12-month average, led by WildFire Energy I’s $650m acquisition of Hawkwood Energy, according to GlobalData’s deals database.

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A total of 40 deals worth $3.2bn were announced in July 2021, compared with the 12-month average of 48 deals.

M&A was the leading category in the month in terms of volume with 31 deals, which accounted for 77.5% of all deals.

In second place was venture financing with six deals, followed by private equity with three transactions, respectively accounting for 15% and 7.5% of overall deal activity in the US technology 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 $2.12bn, while private equity and venture financing deals totalled $572m and $460.87m, respectively.

US oil & gas industry deals in July 2021: Top deals

The top five oil & gas industry deals accounted for 68.4% of the overall value during July 2021.

The combined value of the top five oil & gas deals stood at $2.16bn, against the overall value of $3.2bn recorded for the month.

The top five oil & gas industry deals of July 2021 tracked by GlobalData were:

1) Hawkwood Energy $650m acquisition deal with WildFire Energy I

2) The $430m venture financing of Pivot Bio by Breakthrough Energy Ventures,Bunge Ventures,Continental Grain,DCVC Management Co,G2VP,Generation Investment Management,Pavilion Capital,Prelude Ventures,Rockefeller Capital Management,Roger Underwood,Tekfen Ventures and Temasek Holdings (Private)

3) Kraken Resources II $400m private equity deal with Kayne Anderson Capital Advisors

4) Lonestar Resources US $370m acquisition deal with Penn Virginia

5) The $310m acquisition of Kinetrex Energy by Kinder Morgan

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