US oil & gas industry saw a drop of 36% in overall deal activity during January 2022, when compared with the last 12-month average, led by Enterprise Products Partners‘ $3.25bn acquisition of Navitas Midstream Partners, according to GlobalData’s deals database.

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A total of 32 deals worth $8.2bn were announced in January 2022, compared with the 12-month average of 50 deals.

M&A was the leading category in the month in terms of volume with 22 deals, which accounted for 68.8% of all deals.

In second place was private equity with five deals, followed by venture financing with five transactions, respectively accounting for 15.6% and 15.6% 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 $7.75bn, while private equity and venture financing deals totalled $400m and $3.49m respectively.

US oil & gas industry deals in January 2022: Top deals

The top five oil & gas industry deals accounted for 88.6% of the overall value during January 2022.

The combined value of the top five oil & gas deals stood at $7.23bn, against the overall value of $8.2bn recorded for the month.

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

1) Enterprise Products Partners $3.25bn acquisition deal with Navitas Midstream Partners

2) The $2.65bn acquisition of Chief E&D Holdings and Tug Hill by Chesapeake Energy

3) Enerflex $735m acquisition deal with Exterran

4) The $400m private equity deal with Clearfork Midstream by EnCap Flatrock Midstream

5) UGI Energy Services $190m acquisition with Stonehenge Appalachia