Total oil & gas industry deals worth $9.2bn were announced globally for August 2022, with Devon Energy’s $1.8bn acquisition deal with Validus Energy being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 2.2% over the previous month of $9.37bn and a drop of 44.3% when compared with the last 12-month average of $16.44bn.

In terms of number of deals, the sector saw a drop of 28.83% with 79 deals in August 2022 when compared to the last 12-month average of 111 deals.

In value terms, North America led the activity with deals worth $6.16bn in August 2022.

Oil & Gas industry deals in August 2022: Top deals

The top five deals accounted for 51.8% of the overall value during August 2022.

The combined value of the top five deals stood at $4.74bn, against the overall value of $9.2bn recorded for the month.

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

1) Devon Energy’s $1.8bn acquisition deal with Validus Energy

2) The $950m acquisition of Minnesota Rubber & Plastics Corporate by Trelleborg

3) H.I.G. Capital’s $950m private equity deal with Avient

4) The $558.07m acquisition of 25% stake in Sol Investments SEZC by Parkland

5) Energy Transfer’s $485m acquisition deal with Woodford Express