Oil & Gas industry M&A deals total $5bn in North America in July 2022

Total oil & gas industry M&A deals worth $5bn were announced in North America in July 2022, led by Shell USA’s $1.96bn acquisition of 31.5% stake in Shell Midstream Partners, according to GlobalData’s deals database.

The value marked a decrease of 37.6% over the previous month of $7.97bn and a drop of 20.6% when compared with the last 12-month average of $6.26bn.

North America held a 54.92% share of the global oil & gas industry M&A deal value that totalled $9.05bn in July 2022. With a 48.62% share and deals worth $4.4bn, 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 34 deals during July 2022, marking a decrease of 5.56% over the previous month and a rise of 3.03% over the 12-month average. The US recorded 26 deals during the month.

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

The top five oil & gas industry M&A deals accounted for 84% of the overall value during July 2022.

The combined value of the top five oil & gas deals stood at $4.17bn, against the overall value of $5bn 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) VAALCO Energy $307m acquisition deal with TransGlobe Energy