Total oil & gas industry M&A deals worth $7.7bn were announced in North America in June 2022, led by Targa Resources‘ $3.55bn acquisition of Lucid Energy Group, according to GlobalData’s deals database.

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The value marked an increase of 269.2% over the previous month of $2.08bn and a rise of 20.4% when compared with the last 12-month average of $6.38bn.

North America held an 81.62% share of the global oil & gas industry M&A deal value that totalled $9.41bn in June 2022. With a 65.46% share and deals worth $6.16bn, 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 32 deals during June 2022, marking an increase of 3.23% over the previous month and a drop of 5.88% over the 12-month average. The US recorded 26 deals during the month.

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

The top five oil & gas industry M&A deals accounted for 71.4% of the overall value during June 2022.

The combined value of the top five oil & gas deals stood at $5.48bn, against the overall value of $7.7bn recorded for the month.

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

1) Targa Resources $3.55bn acquisition deal with Lucid Energy Group

2) The $1.47bn acquisition of XTO Energy Canada by Whitecap Resources

3) ProFrac Holding $210m acquisition deal with U.S. Well Services

4) The $127.13m acquisition of 25.5% stake in Sprague Resources by Hartree Partners

5) OneWater Marine $125m acquisition deal with Ocean Bio-Chem