Yahoo Finance NEW YORK – ConocoPhillips is considering an offer for CrownRock LP, an energy producer in the west Texas area of the Permian basin, people familiar with the matter said, as consolidation in the sector picks up pace. Houston-based Conoco, the largest U.S. oil and gas producer after Exxon Mobil Corp and Chevron Corp, has expressed interest in
Oil Price Berkshire Hathaway (BRKA: BRKB) has expanded its stake in Occidental Petroleum (OXY) with a purchase of another 3.9 million shares this week, according to a Securities and Exchange Commission regulatory filing. Warren Buffet’s holding company now owns 25.8% of the Houston-based oil company, for a value of more than $14 billion, after purchasing 1,686,368 shares at a weighted
World Oil (Bloomberg) – Guyana’s government is “very supportive” of Chevron Corp.’s deal to buy Hess Corp., which owns a large stake in the country’s oil developments, Chief Executive Officer John Hess said in an interview. “We have spoken to the leadership of Guyana, and they are very supportive of the deal, welcoming Chevron as another large American oil company,” he
Yahoo Finance Exxon Mobil’s $59.5 billion deal to acquire oil and gas producer Pioneer Natural Resources may have been larger than Chevron’s $53 billion agreement to buy Hess, but it is Chevron that is paying a loftier price tag. Pioneer generates twice as much annual cash as Hess, but the all-stock transactions value Pioneer at just 6.35 times its 12-month
Nasdaq NEW YORK – U.S. waterborne imports of crude from OPEC+ members including Saudi Arabia have dropped steadily over the last year, further tightening supplies in the U.S. while supporting other markets including Europe, according to flows data and analysts. Going forward, the level of U.S. crude imports from OPEC and other exporters and U.S. shipments to Europe will probably have a
Natural Gas Inventories as of October 20, 2023 The EIA has released its natural gas inventory report, showing a net increase of 74 Bcf as of October 20, 2023. Working gas in storage was 3,700 Bcf as of Friday, October 20, 2023, according to EIA estimates. This represents a net increase of 74 Bcf from the previous week. Stocks were
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