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Key Trends in Energy Sector Mergers and Acquisitions in 2017

PART:
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Part 4
Key Trends in Energy Sector Mergers and Acquisitions in 2017 PART 4 OF 9

Permian Basin Was Most Active Region for M&A Deals

Permian leading M&A deals in 2017

As we saw in the previous parts, the Permian Basin has been the most active region for merger and acquisition activity in 2017.

Permian Basin Was Most Active Region for M&amp;A Deals

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According to a report released by PricewaterhouseCoopers (or PWC), the region saw 20 deals in 1Q17 with a total value of ~$21.4 billion. In its 2Q17 report, PWC noted that the Permian saw 11 deals in 2Q17 totaling ~$4.5 billion. The Eagle Ford saw the second highest number of deals in 1Q17 with five deals totaling $7 billion. The Marcellus region saw the second highest number of deals in 2Q17 with a total value of $10.2 billion.

Private equity also on the Permian bandwagon

In a separate report, Deloitte said that based on publicly available data, private equity players participated in 59 total deals, which were also primarily focused in the Permian.

Key Permian deals involving private equity players include Blackstone Energy Partners’ $2 billion purchase of EagleClaw Midstream Ventures and Apollo Global Management’s partnership with Double Eagle Energy Holdings III to create a Permian-focused exploration company. The formation of this company follows the formation of Double Eagle Energy Permian, dubbed “Double Eagle II,” which was sold to Parsley Energy (PE) for $2.8 billion in April this year. Double Eagle is a Texas-based energy company that focuses on acquiring and developing oil and gas assets throughout the US.

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