North America’s oil & gas industry saw a drop of 3.57% in deal activity during July 2022, when compared with the last 12-month average, led by Shell USA’s $1.96bn acquisition of Shell Midstream Partners, according to GlobalData’s deals database.
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A total of 54 oil & gas industry deals worth $5.5bn were announced for the region in July 2022, against the 12-month average of 56 deals.
Of all the deal types, M&A saw most activity in July 2022 with 34 transactions, representing a 63% share for the region.
In second place was venture financing with 15 deals, followed by private equity deals with five transactions, respectively capturing a 27.8% and 9.3% 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 $4.97bn, while private equity and venture financing deals totalled $500m and $55.26m, respectively.
North America oil & gas industry deals in July 2022: Top deals
The top five oil & gas deals accounted for 75.5% of the overall value during July 2022.
The combined value of the top five oil & gas deals stood at $4.17bn, against the overall value of $5.5bn recorded for the month.
The top five oil & gas industry deals of July 2022 tracked by GlobalData were:
1) Shell USA $1.96bn acquisition deal for 31.5% stake in Shell Midstream Partners
2) The $1.1bn acquisition of 52.3% stake in PBF Logistics by PBF Energy
3) Tenaris $460m acquisition deal with BENTELER Steel/Tube Manufacturing
4) The $339m acquisition of Petroteq Energy by Viston United Swiss
5) VAALCO Energy $307m acquisition deal with TransGlobe Energy