M&A Tracker | Analysis of Global Upstream Deals

ERCE Global Upstream M&A Tracker Q1 2022 Issue


Zhamal Orazbayeva (Head of Economics, ERCE Asia Pacific) zorazbayeva@erce.energy

Nicholas Lee (Graduate Economist, ERCE Asia Pacific) nlee@erce.energy

Welcome to ERCE’s Global Upstream M&A Tracker

ERCE’s Global Upstream M&A Tracker provides an easy and detailed summary and analysis of global upstream M&A deals, both asset- and corporate-level. This edition covers upstream M&A activity over Q1 2022.

Global M&A: At a Glance

ERCE had recorded 22 deals with a total reported deal value of approximately US$15bn since the Q4-21 edition of the M&A tracker was released. The volatility in the oil price as a result of Russia’s invasion of Ukraine had put a halt to the recovery in M&A activity with transaction volumes falling by half as compared to Q4-21.

6 deals crossed the US$1bn mark: the Whiting/ Oasis merger, Chesapeake Energy’s acquisition of Chief E&D Holdings, CNOOC’s acquisition of 5% of the Búzios field from Petrobras, Seplat Energy’s acquisition of MPNU from Exxon Mobil, Ithaca’s acquisition of Siccar Point, and 3R Petroleum’s acquisition of the Potiguar cluster from Petrobras.

Read the full report for more analysis and Global Upstream M&A Metrics. 

About ERCE Asia Pacific

ERCE is the leading employee-owned Energy evaluation firm with global expertise and knowledge dating back 45 years with offices in London and Australia. Our in-house team comprises of Geoscience, Engineering, Commercial, Facilities, Cost Estimation and Economics professionals. We work for exploration & production companies (from small boutique to super majors), the finance community, and legal institutions. ERCE is involved in technical projects ranging from oil & gas exploration and appraisal through to brownfield opportunity identification & decommissioning, reserves and resource audits, M&A evaluation, commercial valuation and analysis and dispute processes.


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