Rystad Opens to New Owners With Potential 2.5 Billion Valuation
- Rystad Energy is opening its ownership structure to additional investors, according to a report published by Finansavisen on April 14, 2026.
- Rystad Energy operates as an independent research and energy intelligence company, providing data, insights, and education to businesses, governments, and NGOs to support decision-making across the energy landscape.
- The move to expand ownership occurs as Rystad Energy continues to track significant shifts in global energy investments.
Rystad Energy is opening its ownership structure to additional investors, according to a report published by Finansavisen on April 14, 2026. The energy intelligence firm could be valued at 2.5 billion.
Rystad Energy operates as an independent research and energy intelligence company, providing data, insights, and education to businesses, governments, and NGOs to support decision-making across the energy landscape.
Energy Market Outlook and M&A Analysis
The move to expand ownership occurs as Rystad Energy continues to track significant shifts in global energy investments. In a market update provided by Atul Raina, vice president of oil and gas M&A at Rystad Energy, the firm expects global upstream merger-and-acquisition (M&A) activity to be lower in 2026 than it was in 2025.
As of January 2026, Rystad Energy identified nearly $152 billion worth of opportunities on the market. This figure includes a potential $23.5 billion sale of Santos and assets belonging to Lukoil’s international upstream division.
According to the firm’s analysis, North America is expected to remain the primary anchor for upstream M&A activity in 2026. Deal flow in the region is increasingly being shaped by a merger of equals
consolidation phase among listed small- and mid-cap US shale producers.
Rystad Energy attributes this North American activity to several factors:
- Ample private E&P capital that has yet to be deployed.
- Ongoing consolidation within the Montney shale in Canada.
- Increased interest in gas and LNG-linked assets, particularly from Asian buyers seeking long-term security of supply.
In contrast, the outlook for international M&A remains uneven. While the pipeline of opportunities is sizeable, activity is concentrated within a small number of complex, high-value transactions. Rystad Energy notes that national oil companies from South America, Asia, and the Middle East are likely to be the most active participants as they seek international exposure and scale.
Broader Intelligence and Strategic Focus
Beyond upstream M&A, Rystad Energy provides analysis on the intersection of energy and infrastructure. The firm has reported that investments in data centers have now reached a level on par with investments in oil, gas, and renewables.
The company also monitors the impact of geopolitical instability on global trade. Rystad Energy’s 2025 trade mapping indicated that the effective closure of the Strait of Hormuz, driven by uncertain diplomatic talks between the US and Iran, placed intense pressure on the global trade of ammonia and fertilizer. Specifically, the firm noted that 21% of urea and 15% of global ammonia sales were tied to affected exporters.
In 2025, global upstream M&A activity decreased by 17% year-on-year to approximately $170 billion, with the total deal count falling 12% to 466.