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.
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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.