Total oil & gas industry M&A deals worth $5.22bn were announced in North America in March 2021, led by Chevron’s $1.32bn acquisition of Noble Midstream Partners, according to GlobalData’s deals database.

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The value marked a decrease of 80.6% over the previous month of $26.85bn and a drop of 55.5% when compared with the last 12-month average of $11.74bn.

North America held a 33.79% share of the global oil & gas industry M&A deal value that totalled $15.45bn in March 2021. With a 25.24% share and deals worth $3.9bn, 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 64 deals during March 2021, marking an increase of 30.61% over the previous month and a rise of 12.28% over the 12-month average. The US recorded 44 deals during the month.

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

The top five oil & gas industry M&A deals accounted for 91.1% of the overall value during March 2021.

The combined value of the top five oil & gas deals stood at $4.76bn, against the overall value of $5.22bn 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 $1.07bn merger with Secure Energy Services and Tervita

3) The $981m merger of Diamond S Shipping and International Seaways

4) The $880m asset transaction with Ovintiv by Validus Energy

5) Oasis Midstream Partners’ acquisition of Beartooth DevCo and Bobcat DevCo for $512.5m.