The report below gives a good overview of the third quarter M&A activity in the Energy Industry Sector. M&A activity for North American based target companies in the Energy sector for Q2 2019 included 58 closed deals, according to data published by industry data tracker FactSet.
One of the notable middle market transactions in the sector closed in June when Austin Energy acquired the Nacogdoches Generating Facility from Southern Power Co., which is ultimately owned by The Southern Co. for US$460 million. The transaction enhances Austin Energy’s portfolio of services and products. Nacogdoches Generating Facility is located in Texas.
- The average US retail price for diesel and regular gas fell 5.8% and 3.0%, respectively, in the week ending July 15, 2019, compared to the same week in 2018.
- The spot price of crude oil fell 22.3% in the week ending July 5, 2019, compared to the same week in 2018.
Posted by Roy Graham.