Advent International and Lanxess’ $4.14bn private equity deal with Koninklijke DSM was the Oil & gas industry’s biggest deal of Q2 2022 as deals worth $30.9bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked a decrease of 17.7% over the previous quarter and a drop of 47.5% when compared with the last four-quarter average of $58.89bn.

In terms of number of deals, the sector saw a drop of 17% with 293 deals in Q2 2022 against the average of 353.00 deals in the last four-quarters.

In value terms, North America led the activity with deals worth $16.7bn.

Oil & gas industry deals in Q2 2022: Top deals

The top five Oil & gas industry deals accounted for 42.9% of the overall value during Q2 2022.

The combined value of the top five deals stood at $13.25bn, against the overall value of $30.9bn recorded for the quarter.

The top five Oil & gas industry deals of Q2 2022 tracked by GlobalData were:

1) Advent International and Lanxess $4.14bn private equity deal with Koninklijke DSM

2) The $3.55bn acquisition of Lucid Energy Group by Targa Resources

3) Petronas Chemicals Group $2.39bn acquisition deal with Perstorp Holding

4) The $1.7bn private equity deal with Double Eagle Energy Holdings IV and Tumbleweed Royalty IV by Apollo Natural Resources Partners Funds ,EnCap Investments and Magnetar Capital

5) Whitecap Resources $1.47bn acquisition deal with XTO Energy Canada