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  1. Deals Analysis
August 29, 2022

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

By Carmen

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.

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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

Related Companies

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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