Total oil & gas industry M&A deals worth $4.4bn were announced in the US in July 2022, with Shell USA’s $1.96bn acquisition of 31.5% stake in Shell Midstream Partners being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 28.6% over the previous month of $6.16bn and a drop of 21.6% when compared with the last 12-month average of $5.61bn.

The US held a 48.62% share of the global oil & gas industry M&A deal value that totalled $9.05bn in July 2022.

In terms of M&A deal activity, the US recorded 26 deals during July 2022, marking a flat growth over the previous month and a drop of 3.70% over the 12-month average.

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US oil & gas industry M&A deals in July 2022: Top deals

The top five oil & gas industry M&A deals accounted for 93.6% of the overall value during July 2022.

The combined value of the top five oil & gas M&A deals stood at $4.12bn, against the overall value of $4.4bn recorded for the month.

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

1) Shell USA $1.96bn acquisition deal for 31.5% stake in Shell Midstream Partners

2) The $1.1bn acquisition of 52.3% stake in PBF Logistics by PBF Energy

3) Tenaris $460m acquisition deal with BENTELER Steel/Tube Manufacturing

4) The $339m acquisition of Petroteq Energy by Viston United Swiss

5) Chase $250m acquisition deal with NuCera Solutions