Breaking down the numbers
By Richard Rostad, analyst, Oil & Gas 360

Chevron (ticker: CVX) uprooted the eerily quiet U.S. exploration and production M&A landscape today when it announced it had agreed to acquire Anadarko Petroleum (ticker: APC).

The total deal value is $50 billion, making it the third-largest U.S. oil and gas transaction in history, and the largest since Exxon (ticker: XOM) purchased Mobil in 1998.

This is the seventh-largest global oil and gas deal in history; the most recent larger transaction was Aramco’s $69 billion acquisition of SABIC.

This deal is roughly comparable to ExxonMobil’s acquisition of XTO Energy in 2009 and ConocoPhillips’ (ticker: COP) purchase of Burlington Resources in 2005. Each ac...


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