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  1. Deals Analysis
April 21, 2022

Oil & Gas industry M&A deals total $9bn globally in March 2022

By Nikitha Ladda

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.

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

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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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