Oil & Gas industry cross border M&A deals total $2.2bn globally in July 2022

Total Oil & gas industry cross border M&A deals worth $2.2bn were announced globally in July 2022, led by Tenaris’ $460m acquisition of BENTELER Steel/Tube Manufacturing, according to GlobalData’s deals database.

The value marked an increase of 704.4% over the previous month of $273.49m and a drop of 47% when compared with the last 12-month average, which stood at $4.15bn.

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 $1.21bn. At the country level, the US topped the list in terms of deal value at $899m.

In terms of volumes, Asia-Pacific emerged as the top region for Oil & gas industry cross border M&A deals globally, followed by Europe and then North America.

The top country in terms of cross border M&A deals activity in July 2022 was the US with four deals, followed by the Canada with three and Italy with three.

In 2022, as of July, Oil & gas cross border M&A deals worth $10.66bn were announced globally, marking an increase of 75.3% year on year.

Oil & gas industry cross border M&A deals in July 2022: Top deals

The top five cross border M&A deals accounted for 84.05% of the overall value during July 2022.

The combined value of the top five Oil & gas cross border M&A deals stood at $1.85bn, against the overall value of $2.2bn recorded for the month.

The top five Oil & gas industry cross border M&A deals of July 2022 tracked by GlobalData were:

1) Tenaris $460m acquisition deal with BENTELER Steel/Tube Manufacturing

2) The $400m acquisition of FSRU I by Snam

3) PAGAC Heisenberg Holding II $339.18m acquisition deal for 68% stake in Handsome Chemical Development

4) The $339m acquisition of Petroteq Energy by Viston United Swiss

5) VAALCO Energy $307m acquisition deal with TransGlobe Energy