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  1. Deals Analysis
April 27, 2021

Oil & Gas industry cross border deals total $2.24bn globally in March 2021

By Carmen

Total oil & gas industry cross border deals worth $2.24bn were announced globally for March 2021, with the $880m asset transaction with Ovintiv being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 79.6% over the previous month of $10.98bn and a drop of 75.03% when compared with the last 12-month average of $8.97bn.

In terms of number of cross border deals, the sector saw a drop of 15.15% with 56 deals in March 2021 when compared to the last 12-month average of 66 deals.

In value terms, North America led the activity with cross border deals worth $886.67m in March 2021.

Oil & Gas industry cross border deals in March 2021: Top deals

The top five cross border deals accounted for 86.6% of the overall value during March 2021.

The combined value of the top five cross border deals stood at $1.94bn, against the overall value of $2.24bn recorded for the month.

The top five oil & gas industry cross border deals of March 2021 tracked by GlobalData were:

1) Validus Energy’s $880m asset transaction with Ovintiv

2) The $463.82m acquisition of Tulip Oil Netherlands by Kistos

3) ICL Group’s $400.61m acquisition of Compass Minerals America Do Sul Industria E Comercio

4) The $132.13m asset transaction deal of Team Tankers Deep Sea by Torm

5) BNP Paribas Energy Transition Fund, Delphi Fondene, DNB Asset Management, Fourth Swedish National Pension Fund, Handelsbanken Fonder, Norske Skogindustrier, Pareto Securities, Robeco Asset Management Spain and SpareBank one Markets’ private equity deal with Circa Group for $66.85m.

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Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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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