US oil & gas industry saw a drop of 16.05% in overall deal activity during September 2022, when compared with the last 12-month average, led by EQT’s $5.2bn asset transaction with THQ Appalachia I and Xcl Midstream, according to GlobalData’s deals database.
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A total of 68 deals worth $13.9bn were announced in September 2022, compared with the 12-month average of 81 deals.
M&A was the leading category in the month in terms of volume with 45 deals, which accounted for 66.2% of all deals.
In second place was venture financing with 15 deals, followed by private equity with eight transactions, respectively accounting for 22.1% and 11.8% of overall deal activity in the US technology industry during the month.
In terms of value of deals, M&A was the leading deal category in the US oil & gas industry with total deals worth $13.38bn, while private equity and venture financing deals totalled $400m and $99.51m respectively.
US oil & gas industry deals in September 2022: Top deals
The top five oil & gas industry deals accounted for 81.6% of the overall value during September 2022.
The combined value of the top five oil & gas deals stood at $11.32bn, against the overall value of $13.9bn recorded for the month.
The top five oil & gas industry deals of September 2022 tracked by GlobalData were:
1) EQT’s $5.2bn asset transaction deal with THQ Appalachia I and Xcl Midstream
2) The $2bn acquisition of Mobil California Exploration & Producing Asset by IKAV Capital Partners
3) IKAV Capital Partners’s $2bn acquisition deal with Shell Onshore Ventures
4) The $1.1bn acquisition of EnVen Energy by Talos Energy
5) ‘s $1.02bn merger deal with Decarbonization Plus Acq IV and Hammerhead Resources