Tag

Shale

All articles tagged with #shale

business1 year ago•2 min saved

ConocoPhillips Acquires Marathon Oil for $22.5 Billion

ConocoPhillips announced a $22.5 billion all-stock acquisition of Marathon Oil, including $5.4 billion in debt. Marathon Oil shareholders will receive a 14.7% premium on their shares. The deal, expected to close in Q4, will enhance Conoco's shale assets and increase its market capitalization to over $150 billion. ConocoPhillips plans to boost its dividend and repurchase more than $20 billion in shares over the next three years. Marathon Oil stock rose 8.5%, while ConocoPhillips shares fell 3% following the announcement.

via Investor's Business Daily|

#acquisition #business #conocophillips

business1 year ago•3 min saved

ConocoPhillips Acquires Marathon Oil in $17.1 Billion Deal

ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17 billion, expanding its presence in US shale fields and adding reserves in Equatorial Guinea. The acquisition, which offers a 14.7% premium on Marathon's last closing share price, is part of a broader trend of consolidation in the oil and gas industry. The deal, expected to close in the fourth quarter pending regulatory approval, will add 2 billion barrels to ConocoPhillips' inventory and increase its share buybacks and dividends.

via Yahoo Finance|

#acquisition #business #conocophillips

business-energy1 year ago•4 min saved

"Texas Oil Industry Sees Surge in Billion-Dollar Deals"

Wall Street is embracing the era of Big Shale as a result of a series of deals totaling $250 billion in the US oil and natural gas sector, consolidating small wildcatters into larger corporations. Diamondback Energy's takeover of Endeavor Energy Resources LP marks the latest in this trend, with the stock jumping 11% upon the announcement. The consolidation wave is seen as a remedy for years of overspending by shale drillers, and it signifies a shift towards a "big-company game" driven by demands for scale, efficiency, and cash returns. The evolution of the shale industry is expected to lead to an era of survival of the biggest, with Diamondback set to double its market value and become a major player in the Permian Basin.

via Yahoo Finance|

#business-energy #diamondback-energy #mergers-and-acquisitions

business2 years ago

Exxon's $60 Billion Deal Creates Shale Giant with Pioneer Acquisition

Exxon has agreed to acquire Pioneer in a $60 billion deal, aiming to create a shale giant. The acquisition will allow Exxon to expand its presence in the Permian Basin, one of the largest oil fields in the United States. This move comes as Exxon seeks to boost its production and capitalize on the growing demand for shale oil.

via The Wall Street Journal|

#acquisition #business #energy

business2 years ago•0 min saved

Exxon's Interest in Pioneer Sparks Shale M&A Speculation.

Exxon's recent deal hunt for shale assets may signal a potential wave of mergers and acquisitions in the shale industry, as companies look to expand their portfolios and take advantage of the current low prices.

via The Wall Street Journal|

#acquisitions #business #deal-hunt

energy2 years ago•1 min saved

Exxon Explores Acquisition of U.S. Shale Company.

ExxonMobil has held informal talks about potentially acquiring Pioneer Natural Resources, the largest pure-play shale producer in the US. Exxon has said for years that the Permian Basin would be its key priority area for investments and growing production. Contacts between Exxon and Pioneer have been informal only at this stage, and there is no guarantee that the informal talks could turn into formal negotiations. If Exxon and Pioneer were to proceed to formal negotiations and potentially reach a deal on an Exxon acquisition, this would be the biggest for the US supermajor since the megadeal of 1999 when Exxon and Mobil merged to create the oil giant.

via OilPrice.com|

#acquisition #energy #exxonmobil