Total oil & gas industry deals for August 2020 worth $27.68bn were announced globally, according to GlobalData’s deals database.

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The value marked a decrease of 59.5% over the previous month and a rise of 22.9% when compared with the last 12-month average of $22.53bn.

In terms of number of deals, the sector saw a drop of 9.2% over the last 12-month average with 168 deals against the average of 185 deals.

In value terms, North America led the activity with deals worth $25.03bn.

Oil & gas industry deals in August 2020: Top deals

The top five oil & gas deals accounted for 87.2% of the overall value during August 2020.

The combined value of the top five oil & gas deals stood at $24.13bn, against the overall value of $27.68bn recorded for the month.

The top five oil & gas industry deals of August 2020 tracked by GlobalData were:

1) 7-Eleven's $21bn acquisition of Speedway

2) The $1.33bn asset transaction with Occidental Petroleum by Orion Mine Finance

3) Southwestern Energy's $863.87m acquisition of Montage Resources

4) The $489.4m asset transaction with Ampol by Charter Hall Group and GIC

5) Liberty Oilfield Services’ acquisition of OneStimSM for $448m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term 'acquisition' refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.