Total oil & gas industry cross border M&A deals worth $2.12bn were announced globally in March 2021, led by Validus Energy’s $880m asset transaction with Ovintiv, according to GlobalData’s deals database.
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The value marked a decrease of 65% over the previous month of $6.05bn and a drop of 70.4% when compared with the last 12-month average, which stood at $7.16bn.
Comparing cross border M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $886.67m. At the country level, the US topped the list in terms of deal value at $886m.
In terms of volumes, Europe emerged as the top region for oil & gas industry cross border M&A deals globally, followed by North America and then Asia-Pacific.
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The top country in terms of cross border M&A deals activity in March 2021 was the US with eight deals, followed by the UK with six and Singapore with six.
In 2021, as of March, oil & gas cross border M&A deals worth $15.33bn were announced globally, marking an increase of 111.1% year on year.
oil & gas industry cross border M&A deals in March 2021: Top deals
The top five cross border M&A deals accounted for 90.5% of the overall value during March 2021.
The combined value of the top five oil & gas cross border M&A deals stood at $1.92bn, against the overall value of $2.12bn recorded for the month.
The top five oil & gas industry cross border M&A 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 with Team Tankers Deep Sea by Torm
5) Sole Shipping’s asset transaction with Unicorn Shipping for $42.8m.