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  1. Deals Analysis
July 31, 2022

Oil & Gas industry M&A deals total $9.4bn globally in June 2022

By Carmen

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.

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

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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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