Global upstream merger and acquisition (M&A) activity during January 2017 totalled $22bn from 41 deals, according to a report by GlobalData.

Entitled ‘Monthly Upstream Deals Review’, the report provides details of the M&A activity in the upstream sector for the month of January.

Out of the 41 transactions during the month, 13 deals were valued more than $100m each, accounting for a total value of $21.4bn. Comparatively, there were 17 deals valued more than $100m each in December 2016 accounting for a total value of $24.6bn.

"The Americas led the M&A activity with 33 deals having a combined value of $16.2bn."

Region-wise, the Americas led the M&A activity with 33 deals having a combined value of $16.2bn. The region led globally in terms of both volume and value, with shares of 80% and 74% respectively.

The top M&A deal registered during the month was that of ExxonMobil’s agreement to acquire the Bass family’s oil and gas companies for $6.6bn.