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  1. Deals Analysis
March 22, 2022

Oil & Gas industry M&A deals total $3.6bn in North America in February 2022

By Carmen

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.

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

Related Companies

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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