North America’s oil & gas industry saw a drop of 37.50% in deal activity during August 2022, when compared with the last 12-month average, led by Devon Energy’s $1.8bn acquisition of Validus Energy, according to GlobalData’s deals database.
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A total of 35 oil & gas industry deals worth $6.2bn were announced for the region in August 2022, against the 12-month average of 56 deals.
Of all the deal types, M&A saw most activity in August 2022 with 19 transactions, representing a 54.3% share for the region.
In second place was venture financing with 15 deals, followed by private equity deals with one transactions, respectively capturing a 42.9% and 2.9% 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 $5.13bn, while private equity and venture financing deals totalled $950m and $75.34m, respectively.
North America oil & gas industry deals in August 2022: Top deals
The top five oil & gas deals accounted for 74.9% of the overall value during August 2022.
The combined value of the top five oil & gas deals stood at $4.61bn, against the overall value of $6.2bn recorded for the month.
The top five oil & gas industry deals of August 2022 tracked by GlobalData were:
1) Devon Energy’s $1.8bn acquisition deal with Validus Energy
2) The $950m acquisition of Minnesota Rubber & Plastics Corporate by Trelleborg
3) H.I.G. Capital’s $950m private equity deal with Avient
4) The $485m acquisition of Woodford Express by Energy Transfer
5) Williams Field Services Group’s $423m acquisition deal with NorTex Midstream Partners