U.S. Private Operators Benefit During Q1 On Assets Acquired In Downturn

Q1 upstream deal activity was dominated by private U.S. companies selling assets acquired during the Covid downturn.

Half of the top 10 global upstream acquisitions by value involved a private company selling U.S. assets to a public company, according to Evaluate Energy’s latest M&A report available to download free here.

“When the Covid-led price downturn occurred in 2020, privately owned companies were active buyers across the U.S. in the open market from publicly listed counterparts,” said Eoin Coyne, Senior M&A  Analyst at Evaluate Energy and report co-author.

“Q1 saw five +$500 million deals involving U.S. private companies benefitting from that activity by re-selling assets acquired at relatively cheap rates.”

These deals are highlighted in the table below.

Top 10 Upstream Deals Worldwide in Q1 2022 (by deal value)

For more details on all five of these deals, as well as analysis on the impact for acquirers and sellers alike, download Evaluate Energy’s latest M&A report at this link.

The report also includes:

  • High commodity prices hinder global activity as impasse created between buyers and sellers
  • U.S. deals dominate the global deal value, with Permian assets popular targets
  • Two supermajors realign their African portfolio in deals totaling around $2 billion
  • Canada’s activity limited in tough market, with Vermilion agreeing sole +$100 million deal
  • Sections:
  • M&A

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