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  1. Deals Analysis
March 22, 2022

US oil & gas industry sees a drop of 26% in deal activity in February 2022

By Nikitha Ladda

US oil & gas industry saw a drop of 26% in overall deal activity during February 2022, when compared with the last 12-month average, led by The Infrastructure Investments Fund’s $8.1bn private equity deal with South Jersey Industries, according to GlobalData’s deals database.

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A total of 37 deals worth $11.9bn were announced in February 2022, compared with the 12-month average of 50 deals.

M&A was the leading category in the month in terms of volume with 21 deals, which accounted for 56.8% of all deals.

In second place was venture financing with 12 deals, followed by private equity with four transactions, respectively accounting for 32.4% and 10.8% of overall deal activity in the US technology industry during the month.

In terms of value of deals, private equity was the leading deal category in the US oil & gas industry with total deals worth $8.37bn, while M&A and venture financing deals totalled $3.45bn and $70.6m respectively.

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

The top five oil & gas industry deals accounted for 88.9% of the overall value during February 2022.

The combined value of the top five oil & gas deals stood at $10.57bn, against the overall value of $11.9bn recorded for the month.

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

1) The Infrastructure Investments Fund $8.1bn private equity deal with South Jersey Industries

2) The $1.3bn acquisition of Great Western Petroleum by PDC Energy

3) ULLICO $690m acquisition deal with Hope Gas

4) The $300m acquisition of Bison Oil & Gas II by Civitas Resources

5) Kayne Anderson Energy Fund VIII $180m  private equity deal with Treadstone Energy Partners III

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