Oil & Gas industry M&A deals total $2.2bn in North America in March 2022

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.

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