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  1. Deals Analysis
June 23, 2022

North America’s oil & gas industry saw a drop of 18.18% in deal activity during May 2022

By Carmen

North America’s oil & gas industry saw a drop of 18.18% in deal activity during May 2022, when compared with the last 12-month average, led by TriSummit Utilities’ $800m acquisition of Cook Inlet Natural Gas Storage Alaska, ENSTAR Natural Gas and Norstar PipelineInc, according to GlobalData’s deals database.

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A total of 45 oil & gas industry deals worth $3.4bn were announced for the region in May 2022, against the 12-month average of 55 deals.

Of all the deal types, M&A saw most activity in May 2022 with 30 transactions, representing a 66.7% share for the region.

In second place was private equity with eight deals, followed by venture financing deals with seven transactions, respectively capturing a 17.8% and 15.6% 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 $2.08bn, while private equity and venture financing deals totalled $1.15bn and $134.41m, respectively.

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

The top five oil & gas deals accounted for 71.2% of the overall value during May 2022.

The combined value of the top five oil & gas deals stood at $2.4bn, against the overall value of $3.4bn recorded for the month.

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

1) TriSummit Utilities $800m acquisition deal with Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc

2) The $600m acquisition of Sendero Midstream Partners by Crestwood Midstream Partners

3) Crestwood Equity Partners $395m acquisition deal for 50% stake in Crestwood Permian Basin Holdings

4) The $300m private equity of Rangeland Energy by EnCap Flatrock Midstream

5) TPG Rise Climate $300m private equity deal with Summit Carbon Solutions

Related Companies

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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