Total oil & gas industry M&A deals worth $3.9bn were announced in the US in March 2021, with Chevron’s $1.32bn acquisition of Noble Midstream Partners being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked a decrease of 67.9% over the previous month of $12.13bn and a drop of 58.8% when compared with the last 12-month average of $9.47bn.
The US held a 25.24% share of the global oil & gas industry M&A deal value that totalled $15.45bn in March 2021.
In terms of M&A deal activity, the US recorded 44 deals during March 2021, marking an increase of 22.22% over the previous month and a drop of 4.35% over the 12-month average.
US oil & gas industry M&A deals in March 2021: Top deals
The top five oil & gas industry M&A deals accounted for 97.01% of the overall value during March 2021.
The combined value of the top five oil & gas M&A deals stood at $3.78bn, against the overall value of $3.9bn recorded for the month.
The top five oil & gas industry M&A deals of March 2021 tracked by GlobalData were:
1) Chevron’s $1.32bn acquisition of Noble Midstream Partners
2) The $981m merger of Diamond S Shipping and International Seaways
3) Validus Energy’ $880m asset transaction with Ovintiv.
4) The $512.5m acquisition of Beartooth DevCo and Bobcat DevCo by Oasis Midstream Partners
5) NOW’s acquisition of Flex Flow Services for $90m.
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.