North America’s oil & gas industry saw a drop of 19.79% in deal activity during September 2022, when compared with the last 12-month average, led by EQT’s $5.2bn asset transaction with stake in THQ Appalachia I and Xcl Midstream, according to GlobalData’s deals database.

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A total of 77 oil & gas industry deals worth $16.1bn were announced for the region in September 2022, against the 12-month average of 96 deals.

Of all the deal types, M&A saw most activity in September 2022 with 53 transactions, representing a 68.8% share for the region.

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In second place was venture financing with 16 deals, followed by private equity deals with eight transactions, respectively capturing a 20.8% and 10.4% 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 $15.56bn, while private equity and venture financing deals totalled $400m and $103.01m, respectively.

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

The top five oil & gas deals accounted for 70.9% of the overall value during September 2022.

The combined value of the top five oil & gas deals stood at $11.39bn, against the overall value of $16.1bn recorded for the month.

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

1) EQT’s $5.2bn asset transaction deal with THQ Appalachia I and Xcl Midstream

2) The $2bn acquisition of Mobil California Exploration & Producing Asset by IKAV Capital Partners

3) IKAV Capital Partners’s $2bn acquisition deal with Shell Onshore Ventures

4) The $1.1bn acquisition of EnVen Energy by Talos Energy

5) Tamarack Valley Energy’s $1.09bn acquisition deal with Deltastream Energy