A total of 205 Mergers & Acquisitions (M&A) deals (pending and completed) were announced in the Oil & Gas of the North America region, in the last twelve months resulting in a total deal value of over $109,885.9 million. In the LTM period, October 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $25,048.1 million, resulting in an average deal value of $1,565.5 million during that month. On the other hand, the month of July 2021 was the most prolific in terms of deal volume, recording a total of 24 deals, resulting in an average deal value of $296.8 million during that month.
Of the 205 deals, the deal secured between Icahn Enterprises LP and Southwest Gas Holding Inc., was the largest M&A deal in the North America Oil & Gas sector, which was valued at $7,705.0 million and was completed on October 27, 2021. The second-largest deal was between Targa Resources Corp and Lucid Energy Group LLC, while the third-largest deal was between Phillips 66 and Phillips 66 Partners LP. The Targa Resources Corp-Lucid Energy Group LLC deal and the Phillips 66-Phillips 66 Partners LP deal were valued at $3,550.0 million and $3,400.0 million, respectively. The fourth-largest deal was between Enterprise Products Partners LP-Navitas Midstream Partners LLC valued at $3,250.0 million, whereas the deal between Enbridge Inc-Moda Midstream LLC valued at $3,000.0 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $20,905.0 million and accounted for nearly 19.02% of the total deals (by value) announced during the last twelve months. The North America region accounted for 42.57% of the total M&A deals done globally, and accounted for 5.95% of the total deal size on a global scale.
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