From the Casper Star-Tribune With a $33 billion cash and stock deal, Chevron’s planned acquisition of Anadarko Petroleum will create a new super major oil firm, with uncertain impacts in Wyoming, where Anadarko represents one of the largest players in the state’s oil and gas business. The combined company’s first blush news was heavy on excitement for the Permian Basin
Oxy was actively looking, others are likely considering acquisitions By Richard Rostad, analyst, Oil & Gas 360 The logical question after a major oil and gas M&A deal like Chevron’s (ticker: CVX) announced acquisition of Anadarko Petroleum (ticker: APC) last week is “who’s next?” This question is pertinent because media reports suggested that Occidental Petroleum (ticker: OXY) also made an
From Bloomberg Israel’s Delek Group Ltd. and U.K. chemicals company Ineos Group are emerging as the front-runners for a package of North Sea oil and gas fields put on sale by Chevron Corp., according to people familiar with the matter. The two companies are ahead of Premier Oil Plc, Chrysaor Holdings Ltd.and Oman’s Petrogas, which also submitted bids late last month, the people said. The fields could fetch
From the Houston Business Journal Chevron Corp.’s (NYSE: CVX) $33 billion acquisition of The Woodlands-based Anadarko Petroleum Corp. (NYSE: APC) precedes a spike and acceleration in Chevron’s planned divestments. First, Chevron is moving up the date by which it plans to sell about $2 billion in assets outside the U.S., many of which had already been announced, said Mike Wirth, Chevron’s CEO and chairman. Those are
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
From CNBC There was another bid for Anadarko Petroleum, the oil and gas explorer which Chevron said it was buying for $65 a share in cash and stock on Friday. Occidental Petroleum bid more than $70 a share for Anadarko in cash and stock earlier, people familiar with the situation told CNBC, but the company ultimately decided to go with Chevron. In addition to being higher,
From Bloomberg Anadarko Petroleum Corp. Chairman and Chief Executive Officer Al Walker may not have a role once his company is purchased by Chevron Corp., but he will have some money. Walker’s employment agreement entitles him to walk away with about $64 million if he’s let go as part of the transaction or isn’t tapped to lead the combined entity,
From Reuters Chevron Canada Ltd and Woodside Energy Ltd have applied for a new license for their Kitimat LNG plant in northern British Columbia that could see it nearly double in size to produce 18 million tonnes per annum (mtpa), Chevron said on Wednesday. The companies submitted the application to Canada’s National Energy Board on Monday, with a revised plant
From Reuters In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles. Workers at its Remuda lease near Carlsbad – part of a staff of 5,000 spread across New Mexico and Texas – are drilling wells, operating fleets of hydraulic
Forecasts call for nearly 2 million daily barrels from the basin By Richard Rostad, analyst, Oil & Gas 360 Like independent E&P companies in the oil and gas industry, the supermajors are also diving into the Permian. Today Chevron (ticker: CVX) and Exxon Mobil (ticker: XOM) announced major plans for the basin, illustrating just how the jumbo oil companies have
From Reuters Britain’s Premier Oil has teamed up with U.S. private equity fund Apollo Global Management to bid for oil and gas fields owned by Chevron in the British North Sea, according to industry sources. Premier has previously said it was looking to buy assets in the region, but it, and Apollo, had no immediate comment on Thursday. Other parties
From Bloomberg For Mike Wirth, the future of Big Oil lies at home, under the dusty fields of West Texas. As he celebrates his first year as chief executive of Chevron Corp., Wirth sees the Permian Basin as a plentiful source of high-quality crude for years to come, but that’s not all. The low break-even costs to pump in the Permian
