Total oil & gas industry M&A deals worth $2.1bn were announced in North America in May 2022, led by TriSummit Utilities’ $800m acquisition of Cook Inlet Natural Gas Storage Alaska, ENSTAR Natural Gas and Norstar PipelineInc, according to GlobalData’s deals database.
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The value marked an increase of 28.4% over the previous month of $1.62bn and a drop of 68.5% when compared with the last 12-month average of $6.61bn.
North America held a 34.10% share of the global oil & gas industry M&A deal value that totalled $6.1bn in May 2022. With a 33.93% share and deals worth $2.07bn, the US was the top country in North America’s M&A deal value across oil & gas industry.
In terms of M&A deal activity, North America recorded 30 deals during May 2022, marking an increase of 87.50% over the previous month and a drop of 11.76% over the 12-month average. The US recorded 24 deals during the month.
North America oil & gas industry M&A deals in May 2022: Top deals
The top five oil & gas industry M&A deals accounted for 97.6% of the overall value during May 2022.
The combined value of the top five oil & gas deals stood at $2.04bn, against the overall value of $2.1bn recorded for the month.
The top five oil & gas industry M&A deals of May 2022 tracked by GlobalData were:
1) TriSummit Utilities $800m acquisition deal with Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc
2) The $600m acquisition of Sendero Midstream Partners by Crestwood Midstream Partners
3) Crestwood Equity Partners $395m acquisition deal for 50% stake in Crestwood Permian Basin Holdings
4) The $120m acquisition of Solvay Soda Ash Extension Joint Venture and Solvay Soda Ash Joint Venture by American Soda
5) Helix Energy Solutions Group $120m acquisition deal with Alliance Energy Services
Verdict deals analysis methodology
This analysis considers only announced and completed 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.