In the US oil & gas industry, there were 117 M&A deals announced in Q2 2023, worth a total value of $45.4bn, according to GlobalData’s Deals Database. The $19.1bn acquisition of magellan midstream partners by oneok was the industry’s largest disclosed deal. A thorough analysis of the disruptive themes, the M&A activity and most notable deals are included in GlobalData’s Oil and Gas Industry Mergers and Acquisitions Deals by Top Themes report. Buy the report here.

In value terms, M&A activity in The US increased by 92% in Q2 2023 compared with the previous quarter’s total of $23.7bn and rose by 117% as compared to Q2 2022. Related deal volume decreased by 5% in Q2 2023 versus the previous quarter and was 30% lower than in Q2 2022.

The top-ranked financial advisors supporting these M&A deals in The US in Q2 2023 were Royal Bank of Canada; JPMorgan Chase & Co; Bank of America with 11, 10, 9 deals respectively.

The top-ranked legal advisorss supporting these M&A deals in The US Q2 2023 were Kirkland & Ellis; Vinson & Elkins; Gibson, Dunn & Crutcher with 29, 16, 10 deals respectively.

For further understanding of GlobalData's Oil and Gas Industry Mergers and Acquisitions Deals by Top Themes, buy the report here.

This content was updated on 18 July 2023

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.