Total oil & gas industry M&A deals worth $6.6bn were announced in the US in November 2022, with Marathon Oil’s $3bn asset transaction with Ensign Natural Resources being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 12.6% over the previous month of $7.52bn and a drop of 27.3% when compared with the last 12-month average of $9.04bn.

The US held a 24.84% share of the global oil & gas industry M&A deal value that totalled $26.45bn in November 2022.

In terms of M&A deal activity, the US recorded 47 deals during November 2022, marking an increase of 17.50% over the previous month and a drop of 20.34% over the 12-month average.

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US oil & gas industry M&A deals in November 2022: Top deals

The top five oil & gas industry M&A deals accounted for 86.9% of the overall value during November 2022.

The combined value of the top five oil & gas M&A deals stood at $5.71bn, against the overall value of $6.6bn recorded for the month.

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

1) Marathon Oil’s $3bn asset transaction deal with Ensign Natural Resources

2) The $1.55bn acquisition of Lario Permian by Diamondback Energy

3) Sable Offshore’s $625m asset transaction deal with Exxon Mobil

4) The $270.7m acquisition of Hatch Resources by Kimbell Royalty Partners

5) Enbridge and Plains All American Pipeline’s $265m asset transaction deal for 15% stake in Western Midstream Partners