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.

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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