North America’s oil & gas industry saw a drop of 22.22% in deal activity during October 2021, when compared with the last 12-month average, led by Ecolab’s $3.7bn acquisition of Purolite, according to GlobalData’s deals database.

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A total of 42 oil & gas industry deals worth $12.5bn were announced for the region in October 2021, against the 12-month average of 54 deals.

Of all the deal types, M&A saw most activity in October 2021 with 30 transactions, representing a 71.4% share for the region.

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In second place was venture financing with 11 deals, followed by private equity deals with one transactions, respectively capturing a 26.2% and 2.4% 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 $12.44bn, while venture financing and private equity deals totalled $50.14m and $0m, respectively.

North America oil & gas industry deals in October 2021: Top deals

The top five oil & gas deals accounted for 93.3% of the overall value during October 2021.

The combined value of the top five oil & gas deals stood at $11.65bn, against the overall value of $12.5bn recorded for the month.

The top five oil & gas industry deals of October 2021 tracked by GlobalData were:

1) Ecolab $3.7bn acquisition deal with Purolite

2) The $3.4bn acquisition of 29.8% stake in Phillips 66 Partners by Phillips 66

3) Southwest Gas Holding $1.98bn acquisition deal with Dominion Energy Questar Pipeline

4) The $1.8bn acquisition of Oasis Midstream Partners by Crestwood Equity Partners

5) World Fuel Services $775m acquisition deal with Flyers Energy