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  1. Deals Analysis
June 30, 2022

US oil & gas industry sees a drop of 17.39% in deal activity in May 2022

By Carmen

US oil & gas industry saw a drop of 17.39% in overall deal activity during May 2022, when compared with the last 12-month average, led by TriSummit Utilities’ $800m acquisition of Cook Inlet Natural Gas Storage Alaska, ENSTAR Natural Gas and Norstar PipelineInc, according to GlobalData’s deals database.

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A total of 38 deals worth $3.4bn were announced in May 2022, compared with the 12-month average of 46 deals.

M&A was the leading category in the month in terms of volume with 24 deals, which accounted for 63.2% of all deals.

In second place was private equity with eight deals, followed by venture financing with six transactions, respectively accounting for 21.05% and 15.8% of overall deal activity in the US technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the US oil & gas industry with total deals worth $2.07bn, while private equity and venture financing deals totalled $1.15bn and $133.67m respectively.

US oil & gas industry deals in May 2022: Top deals

The top five oil & gas industry deals accounted for 71.6% of the overall value during May 2022.

The combined value of the top five oil & gas deals stood at $2.4bn, against the overall value of $3.4bn recorded for the month.

The top five oil & gas industry deals of May 2022 tracked by GlobalData were:

1) TriSummit Utilities $800m acquisition deal with Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc

2) The $600m acquisition of Sendero Midstream Partners by Crestwood Midstream Partners

3) Crestwood Equity Partners $395m acquisition deal for 50% stake in Crestwood Permian Basin Holdings

4) The $300m private equity of Rangeland Energy by EnCap Flatrock Midstream

5) TPG Rise Climate $300m private equity deal with Summit Carbon Solutions

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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