Total oil & gas industry deals worth $13.5bn were announced globally for February 2022, with the $8.1bn private equity deal with South Jersey Industries being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 32.3% over the previous month of $10.23bn and a drop of 34.5% when compared with the last 12-month average of $20.64bn.

In terms of number of deals, the sector saw a drop of 36.97% with 75 deals in February 2022 when compared to the last 12-month average of 119 deals.

In value terms, North America led the activity with deals worth $12bn in February 2022.

oil & gas industry deals in February 2022: Top deals

The top five deals accounted for 82.1% of the overall value during February 2022.

The combined value of the top five deals stood at $11.11bn, against the overall value of $13.5bn recorded for the month.

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

1) The Infrastructure Investments Fund $8.1bn private equity deal with South Jersey Industries

2) The $1.3bn acquisition of Great Western Petroleum by PDC Energy

3) ULLICO $690m acquisition deal with Hope Gas

4) The $620m acquisition of OCTAL HoldingSAOC by Alpek SAB de CV

5) Quantum Energy Partners and Warburg Pincus $400m private equity deal with Trident Energy