North America’s oil & gas industry saw a drop of 18.18% in deal activity during May 2022, when compared with the last 12-month average, led by TriSummit Utilities ‘ $800m acquisition of Cook Inlet Natural Gas Storage Alaska , ENSTAR Natural Gas and Norstar PipelineInc, according to GlobalData’s deals database.

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A total of 45 oil & gas industry deals worth $3.4bn were announced for the region in May 2022, against the 12-month average of 55 deals.

Of all the deal types, M&A saw most activity in May 2022 with 30 transactions, representing a 66.7% share for the region.

In second place was private equity with eight deals, followed by venture financing deals with seven transactions, respectively capturing a 17.8% and 15.6% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s oil & gas industry with $2.08bn, while private equity and venture financing deals totalled $1.15bn and $134.41m, respectively.

North America oil & gas industry deals in May 2022: Top deals

The top five oil & gas deals accounted for 71.2% of the overall value during May 2022.

The combined value of the top five oil & gas deals stood at $2.4bn, against the overall value of $3.4bn recorded for the month.

The top five oil & gas industry deals of May 2022 tracked by GlobalData were:

1) TriSummit Utilities $800m acquisition deal with Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc

2) The $600m acquisition of Sendero Midstream Partners by Crestwood Midstream Partners

3) Crestwood Equity Partners $395m acquisition deal for 50% stake in Crestwood Permian Basin Holdings

4) The $300m private equity of Rangeland Energy by EnCap Flatrock Midstream

5) TPG Rise Climate $300m private equity deal with Summit Carbon Solutions