The number of whole-company and minority-stake deals in the oil and gas industry inched down to 35 in January from 36 in the same month of 2022.

The combined value of such transactions decreased to US$4.32 billion in January from US$6.27 billion the year before, according to S&P Global Market Intelligence data.

Only one asset transaction was announced in the sector in the month, valued at US$1.05 billion. In the prior-year period, 26 asset deals with an aggregate value of US$3.10 billion were announced.

Largest whole-company and minority-stake deal

Two whole-company and minority-stake acquisitions in January were valued at more than $1 billion.

The largest deal of the month was MRC Energy Co.'s approximately US$1.69 billion acquisition of Advance Energy Partners LLC. The Matador Resources Co. subsidiary will pay $1.6 billion in cash upfront plus $7.5 million for each month in 2023 when the average oil price exceeds $85 per barrel to own roughly 18,500 net acres in the core of the northern Delaware Basin.

The second-largest deal of the month was GasLog Ltd.'s $1.42 billion buyout of its subsidiary GasLog Partners LP. The Greek company already owns a 30% stake in GasLog Partners and will buy the remaining shares for $7.70 per common unit.

* Use our Transactions Statistics page to run a custom screen of M&A transactions. * Use our M&A Replay page to view more data on other M&A deals.

Single asset deal

The only asset deal in January was Targa Resources Corp.'s $1.05 billion purchase of Blackstone Inc.'s 25% stake in the Grand Prix natural gas liquids pipeline. Targa Resources is now the sole owner of the pipeline, which can ship up to 1 million barrels per day of liquids to the market hub at Mont Belvieu, Texas.

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