Total oil & gas industry cross border deals worth $6.3bn were announced globally for October 2022, with the $3.3bn private equity deal with Wood Mackenzie being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 59.5% over the previous month of $15.47bn and a drop of 53.8% when compared with the last 12-month average of $13.55bn.

In terms of number of cross border deals, the sector saw a drop of 25.00% with 72 deals in October 2022 when compared to the last 12-month average of 96 deals.

In value terms, Europe led the activity with cross border deals worth $4.33bn in October 2022.

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By GlobalData

Oil & Gas industry cross border deals in October 2022: Top deals

The top five cross border deals accounted for 69.6% of the overall value during October 2022.

The combined value of the top five cross border deals stood at $4.36bn, against the overall value of $6.3bn recorded for the month.

The top five oil & gas industry cross border deals of October 2022 tracked by GlobalData were:

1) Veritas Capital’s $3.3bn private equity deal with Wood Mackenzie

2) The $512.99m acquisition of Evergas by Seapeak

3) Brookfield and TPG’s $200m private equity deal for 9.1% stake in Optima Farm Solutions

4) The $185m asset transaction of Sentek Marine & Trading by HMM

5) Lomar Shipping’s $160m acquisition deal with Carl Buttner GmbHKG