Total oil & gas industry M&A deals worth $3.6bn were announced in North America in February 2022, led by PDC Energy’s $1.3bn acquisition of Great Western Petroleum, according to GlobalData’s deals database.

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The value marked a decrease of 54.2% over the previous month of $7.77bn and a drop of 56.5% when compared with the last 12-month average of $8.18bn.

North America held a 78.76% share of the global oil & gas industry M&A deal value that totalled $4.52bn in February 2022. With a 76.33% share and deals worth $3.45bn, 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 24 deals during February 2022, marking a decrease of 11.11% over the previous month and a drop of 33.33% over the 12-month average. The US recorded 21 deals during the month.

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North America oil & gas industry M&A deals in February 2022: Top deals

The top five oil & gas industry M&A deals accounted for 71% of the overall value during February 2022.

The combined value of the top five oil & gas deals stood at $2.53bn, against the overall value of $3.6bn recorded for the month.

The top five oil & gas industry M&A deals of February 2022 tracked by GlobalData were:

1) PDC Energy $1.3bn acquisition deal with Great Western Petroleum

2) The $690m acquisition of Hope Gas by ULLICO

3) Civitas Resources $300m acquisition deal with Bison Oil & Gas II

4) The $130m acquisition of 50% stake in Scientific DesignInc by Saudi Basic Industries

5) 1325996 BC $106.72m acquisition deal with Macro Enterprises