Total oil & gas industry M&A deals worth $14.1bn were announced globally in October 2022, led by Omega Acquisition’s $4.31bn acquisition of 17% stake in Continental Resources, according to GlobalData’s deals database.

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The value marked a decrease of 61.3% over the previous month of $36.46bn and a drop of 38.5% when compared with the last 12-month average, which stood at $22.94bn.

Comparing M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $8.27bn. At the country level, the US topped the list in terms of deal value at $7.52bn.

In terms of volumes, North America emerged as the top region for oil & gas industry M&A deals globally, followed by Asia-Pacific and then Europe.

The top country in terms of M&A deals activity in October 2022 was the US with 39 deals, followed by the Marshall Islands with 11 and Liberia with eight.

In 2022, as of October, oil & gas M&A deals worth $192.78bn were announced globally, marking an increase of 25% year on year.

oil & gas industry M&A deals in October 2022: Top deals

The top five M&A deals accounted for 67.2% of the overall value during October 2022.

The combined value of the top five oil & gas M&A deals stood at $9.49bn, against the overall value of $14.1bn recorded for the month.

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

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

2) The $2.15bn acquisition of Tokyo Gas Australia by MidOcean Energy Holdings

3) Diamondback Energy’s $1.6bn acquisition deal with Firebird Energy

4) The $731.4m asset transaction of 21.3% stake in Teck Resources by Suncor Energy

5) IMM Private Equity’s $700m acquisition deal for 30% stake in AirFirst