Total Oil & gas industry M&A deals worth $9.4bn were announced globally 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 54.01% over the previous month of $6.11bn and a drop of 24.2% when compared with the last 12-month average, which stood at $12.41bn.
Comparing M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $7.68bn. At the country level, the US topped the list in terms of deal value at $6.16bn.
In terms of volumes, North America emerged as the top region for Oil & gas industry M&A deals globally, followed by Asia-Pacific and then Europe.
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The top country in terms of M&A deals activity in June 2022 was the US with 26 deals, followed by the China with 11 and Canada with six.
In 2022, as of June, Oil & gas M&A deals worth $43.39bn were announced globally, marking an increase of 41.6% year on year.
Oil & gas industry M&A deals in June 2022: Top deals
The top five M&A deals accounted for 60.4% of the overall value during June 2022.
The combined value of the top five Oil & gas M&A deals stood at $5.68bn, against the overall value of $9.4bn 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) TGS $252m acquisition deal with Magseis
4) The $210m acquisition of U.S. Well Services by ProFrac Holding
5) FMC $200m acquisition deal with BioPhero