North America’s oil & gas industry saw a rise of 8.86% in deal activity during March 2021, when compared with the last 12-month average, led by Chevron’s $1.32bn acquisition of Noble Midstream Partners, according to GlobalData’s deals database.
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A total of 86 oil & gas industry deals worth $6.46bn were announced for the region in March 2021, against the 12-month average of 79 deals.
Of all the deal types, M&A saw most activity in March 2021 with 64 transactions, representing a 74.4% share for the region.
In second place was venture financing with 19 deals, followed by private equity deals with three transactions, respectively capturing a 22.1% and 3.5% 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 $5.22bn, while private equity and venture financing deals totalled $1.1bn and $136.19m, respectively.
North America oil & gas industry deals in March 2021: Top deals
The top five oil & gas deals accounted for 82.8% of the overall value during March 2021.
The combined value of the top five oil & gas deals stood at $5.35bn, against the overall value of $6.46bn recorded for the month.
The top five oil & gas industry deals of March 2021 tracked by GlobalData were:
1) Chevron’s $1.32bn acquisition of Noble Midstream Partners
2) The $1.1bn private equity deal with PQ Group Holdings by Cerberus Capital Management and Koch Minerals & Trading
3) The $1.07bn merger of Secure Energy Services and Tervita
4) The $981m merger of Diamond S Shipping and International Seaways
5) Validus Energy’s asset transaction with Ovintiv for $880m.