Total oil & gas industry M&A deals worth $2.2bn were announced in North America in March 2022, led by Vermilion Energy’s $382.21m acquisition of Leucrotta Exploration, according to GlobalData’s deals database.
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The value marked a decrease of 41% over the previous month of $3.66bn and a drop of 67.2% when compared with the last 12-month average of $6.58bn.
North America held a 23.92% share of the global oil & gas industry M&A deal value that totalled $9.03bn in March 2022. With a 20.16% share and deals worth $1.82bn, Canada 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 March 2022, marking an increase of 25.00% over the previous month and a drop of 16.67% over the 12-month average. The US recorded 21 deals during the month.
North America oil & gas industry M&A deals in March 2022: Top deals
The top five oil & gas industry M&A deals accounted for 36.9% of the overall value during March 2022.
The combined value of the top five oil & gas deals stood at $796.64m, against the overall value of $2.2bn recorded for the month.
The top five oil & gas industry M&A deals of March 2022 tracked by GlobalData were:
1) Vermilion Energy $382.21m acquisition deal with Leucrotta Exploration
2) The $200m acquisition of Southcross Energy Operating by Targa Resources
3) Houston Natural Resources $100m acquisition deal with Cunningham Energy
4) The $68.1m acquisition of Keystone Royalty by Topaz Energy
5) Eco (Atlantic) Oil & Gas $46.33m acquisition 92.65% stake in JHI Associates