Capricorn Energy’s $7.16bn acquisition deal with NewMed EnergyPartnership was the oil & gas industry’s biggest deal of Q3 2022 as deals worth $67.5bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked an increase of 6.3% over the previous quarter and a drop of 26.5% when compared with the last four-quarter average of $91.78bn.

In terms of number of deals, the sector saw a drop of 9.11% with 584 deals in Q3 2022 against the average of 642.50 deals in the last four-quarters.

In value terms, North America led the activity with deals worth $35.35bn.

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oil & gas industry deals in Q3 2022: Top deals

The top five oil & gas industry deals accounted for 35% of the overall value during Q3 2022.

The combined value of the top five deals stood at $23.61bn, against the overall value of $67.5bn recorded for the quarter.

The top five oil & gas industry deals of Q3 2022 tracked by GlobalData were:

1) Capricorn Energy’s $7.16bn acquisition deal with NewMed EnergyPartnership

2) The $5.2bn asset transaction of THQ Appalachia I and Xcl Midstream by EQT

3) EIG Global Energy Partners’s $4.8bn asset transaction deal for 25% stake in Repsol

4) The $3.8bn acquisition of 50% stake in KMG Kashagan by NationalKazMunayGas

5) Saudi Arabian Oil’s $2.65bn asset transaction deal with Valvoline