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  1. Deals Analysis
April 21, 2022

North America’s oil & gas industry saw a drop of 16.95% in deal activity during March 2022

By Nikitha Ladda

North America’s oil & gas industry saw a drop of 16.95% in deal activity during March 2022, when compared with the last 12-month average, led by EnCap Investments’ $1.45bn private equity deal with EP Energy, according to GlobalData’s deals database.

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A total of 49 oil & gas industry deals worth $3.8bn were announced for the region in March 2022, against the 12-month average of 59 deals.

Of all the deal types, M&A saw most activity in March 2022 with 30 transactions, representing a 61.2% share for the region.

In second place was venture financing with 17 deals, followed by private equity deals with two transactions, respectively capturing a 34.7% and 4.1% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s oil & gas industry with $2.16bn, while private equity and venture financing deals totalled $1.45bn and $197.34m, respectively.

North America oil & gas industry deals in March 2022: Top deals

The top five oil & gas deals accounted for 57.8% of the overall value during March 2022.

The combined value of the top five oil & gas deals stood at $2.2bn, against the overall value of $3.8bn recorded for the month.

The top five oil & gas industry deals of March 2022 tracked by GlobalData were:

1) EnCap Investments $1.45bn private equity deal with EP Energy

2) The $382.21m acquisition of Leucrotta Exploration by Vermilion Energy

3) Targa Resources $200m acquisition deal with Southcross Energy Operating

4) The $100m acquisition of Cunningham Energy by Houston Natural Resources

5) Topaz Energy $68.1m acquisition deal with Keystone Royalty

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Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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