Total oil & gas industry deals worth $17.9bn were announced globally for October 2022, with Omega Acquisition’s $4.31bn acquisition deal for 17% stake in Continental Resources being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 51.8% over the previous month of $37.01bn and a drop of 36.2% when compared with the last 12-month average of $27.96bn.

In terms of number of deals, the sector saw a drop of 26.07% with 156 deals in October 2022 when compared to the last 12-month average of 211 deals.

In value terms, North America led the activity with deals worth $8.46bn in October 2022.

Oil & Gas industry deals in October 2022: Top deals

The top five deals accounted for 67.7% of the overall value during October 2022.

The combined value of the top five deals stood at $12.09bn, against the overall value of $17.9bn recorded for the month.

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

1) Omega Acquisition’s $4.31bn acquisition deal for 17% stake in Continental Resources

2) The $3.3bn private equity of Wood Mackenzie by Veritas Capital

3) MidOcean Energy Holdings’s $2.15bn acquisition deal with Tokyo Gas Australia

4) The $1.6bn acquisition of Firebird Energy by Diamondback Energy

5) Suncor Energy’s $731.4m asset transaction deal for 21.3% stake in Teck Resources