March upstream oil and gas deal value fell sharply from February despite stable transaction volumes, driven by oil price uncertainty.
Upstream oil and gas deal value plunged to $5.55 billion in March, down from $32 billion in February, as oil price volatility weighed on investor sentiment. Transaction volume remained nearly unchanged at 35 deals, compared with 34 in the prior month.
South America led deal activity, accounting for 55% of total value, while North America contributed 16% and Asia 13%. The largest transaction was Prime Infrastructure’s $1.4 billion acquisition of SierraCol Energy, highlighting regional shifts in capital flows.
The decline reflects broader market caution amid fluctuating crude prices and macroeconomic uncertainty.