M&A Quarterly News In The Energy Industry Sector
By Roy Graham | Mar 02, 2020The report below gives a good overview of the first quarter M&A activity in the Energy Industry Sector. M&A activity for North American based target companies in the Energy sector for Q4 2019 included 75 closed deals, according to data published by industry data tracker FactSet.
One of the notable middle market transactions in the sector was announced in November when OMOG JV LLC, a joint venture of Rattler Midstream LP and Oryx Midstream Services LLC, acquired Reliance Gathering LLC, a portfolio company of Metalmark Capital LLC, for US$356 million in cash. Reliance Gathering is a crude oil gathering affiliate of Permian Basin-focused Reliance Energy. Reliance is a private Midland based oil and gas company focused on developing upstream and midstream assets. The Company has over 100,000 net acres in the Permian Basin, including approximately 40,000 net acres in the prolific Northern Midland Basin.