Upstream M&A hits $22 billion in Q2 2022 in another modest quarter of activity

High oil and gas prices continue to stifle market activity when it comes to E&P deal-making.

Evaluate Energy’s latest infographic focuses on upstream M&A in Q2 2022 – and is available to download free here. It details a total of $22 billion in new deals; albeit, the second consecutive quarter with historically modest activity levels.

“Q2’s $22 billion is an uptick over last quarter but 35% down on the five-year average total per quarter, with high prices the primary driver,” said Eoin Coyne, senior analyst at Evaluate Energy. “As we saw in Q1, buyers seem unwilling to make deals at top-of-the-market prices, while sellers have little impetus to part with assets contributing to healthy profits unless a strong offer is made.”

The infographic expands on these and other external pressures that may be hindering activity, while also providing information on:

• All the major Q2 deals
• The largest U.S. merger of 2022
• The active role now taken by private companies
• Canada’s most active quarter of deal-making since Covid-19 hit
• Activity in Qatar related to the single largest LNG project in history