Mergers and acquisitions activity in the US oil and gas sector rebounded in the second quarter of 2021, reaching levels rarely seen in the past half-decade, a new report showed.

According to Texas-based energy analytics firm Enverus, the second quarter saw a total of 40 deals worth approximately $33 billion, including seven deals worth more than $1 billion.

That is the third-highest quarterly total over the past five years and the largest since the second quarter of 2019, when Occidental’s massive acquisition of Anadarko Petroleum led nearly $66 billion in M&A activity.