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  1. Deals Analysis
April 30, 2022

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

By Carmen

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

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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.

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