Total oil & gas industry M&A deals worth $9bn were announced globally in March 2022, led by British Columbia Investment Management and Macquarie Asset Management Holding’s $5.53bn acquisition of National Grid Gas, according to GlobalData’s deals database.

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The value marked an increase of 114% over the previous month of $4.22bn and a drop of 26.8% when compared with the last 12-month average, which stood at $12.34bn.

Comparing M&A deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $6.56bn. At the country level, the UK topped the list in terms of deal value at $5.75bn.

In terms of volumes, North America emerged as the top region for oil & gas industry M&A deals globally, followed by Europe and then Asia-Pacific.

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The top country in terms of M&A deals activity in March 2022 was the US with 21 deals, followed by the Canada with nine and the UK with five.

In 2022, as of March, oil & gas M&A deals worth $23bn were announced globally, marking an increase of 43.8% year on year.

oil & gas industry M&A deals in March 2022: Top deals

The top five M&A deals accounted for 78.2% of the overall value during March 2022.

The combined value of the top five oil & gas M&A deals stood at $7.06bn, against the overall value of $9bn recorded for the month.

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

1) British Columbia Investment Management and Macquarie Asset Management Holding $5.53bn acquisition deal for 60% stake in National Grid Gas

2) The $731.12m acquisition of Geveke and LEWA by Atlas Copco

3) Vermilion Energy $382.21m acquisition deal with Leucrotta Exploration

4) The $215m acquisition of 51% stake in HG Storage International by Tristar Transport

5) Targa Resources $200m acquisition deal with Southcross Energy Operating