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  1. Deals Analysis
July 18, 2022

Oil & Gas industry M&A deals total $7.7bn in North America in June 2022

By Carmen

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.

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

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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