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  1. Deals Analysis
August 29, 2021

Oil & Gas industry M&A deals total $3bn in North America in July 2021

By Nikitha Ladda

Total oil & gas industry M&A deals worth $3bn were announced in North America in July 2021, led by WildFire Energy I’s $650m acquisition of Hawkwood Energy, according to GlobalData’s deals database.

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The value marked a decrease of 69.5% over the previous month of $9.74bn and a drop of 69.5% when compared with the last 12-month average of $9.74bn.

North America held a 15.18% share of the global oil & gas industry M&A deal value that totalled $19.57bn in July 2021. With a 10.83% share and deals worth $2.12bn, 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 43 deals during July 2021, marking an increase of 10.26% over the previous month and a rise of 34.38% over the 12-month average. The US recorded 31 deals during the month.

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North America oil & gas industry M&A deals in July 2021: Top deals

The top five oil & gas industry M&A deals accounted for 74.7% of the overall value during July 2021.

The combined value of the top five oil & gas deals stood at $2.22bn, against the overall value of $3bn recorded for the month.

The top five oil & gas industry M&A deals of July 2021 tracked by GlobalData were:

1) Hawkwood Energy $650m acquisition deal with WildFire Energy I

2) The $591.13m acquisition of Velvet Energy by Spartan Delta

3) Lonestar Resources $370m acquisition deal with Penn Virginia

4) Kinetrex Energy $310m acquisition deal with Kinder Morgan

5) The $295m acquisition of Pioneer Energy Services by Patterson-UTI Energy.

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