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The final member has been chosen for a three-person arbitration panel meant to settle Exxon Mobil’s claim against Chevron’s $53 billion purchase of Hess Corp, two people familiar with the matter told Reuters. The panel’s formation would be a milestone in a long-delayed process that has cast uncertainty over the mega-merger, which both Chevron and Hess …
Exxon-Hess Arbitration Panel Nears Formation, Sources Say Read More »
Summary Auction manager seeks more time to review, negotiate bids Motion does not say how many or amount of bids received Court auction aims to satisfy $21 billion in claims HOUSTON, June 28 (Reuters) – A U.S. court has been asked to postpone to Sept. 19 a hearing to present the winning bid in an …
U.S. Court May Put Off Hearing on Citgo Bids to September Read More »
Adnoc is attempting to clinch $12.5 billion Covestro takeover Gulf buyers have faced challenges on large international deals For years, Abu Dhabi’s main oil producer was known as a sleepy state company content to churn out crude from its vast oil fields. But that stodgy reputation is getting a dramatic makeover as it uses a …
Gulf Oil Giant Adnoc With $150 Billion Turns Into Top Dealmaker Read More »
(Reuters) – Spanish oil major Repsol plans to sell a minority interest in its Eagle Ford shale assets in South Texas, in a deal that could value the assets at up to $2 billion, three sources familiar with the talks told Reuters. The sources said Repsol has hired Scotiabank to assist with the process, and aims to …
Repsol Explores Sale of Minority Stake in South Texas Oil Assets – Sources Read More »
The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their oil and gas reserves. The total value of deals in January and February hit the highest level since the first …
U.S. Energy Sector Deals Accelerate in Quest for Reserves Read More »
SM Energy said on Thursday it had agreed to buy some shale assets of oil and gas producer XCL Resources for about $2 billion, extending its footprint in the Uinta region in Utah. Northern Oil and Gas will also buy 20% of the oil and gas assets of EnCap Investments-backed XCL for $510 million, resulting …
SM Energy Buys XCL Resources’ Shale Assets for $2 Bln Read More »
(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway Inc. acquired another 2.95 million shares in Occidental Petroleum , a regulatory filing showed, bringing his stake in the U.S. oil producer’s common stock to nearly 29%. Berkshire disclosed in a U.S. Securities and Exchange Commission filing on Monday that it paid about $176 million in three separate purchases of …
Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29% Read More »
Photographer: Callaghan O’Hare/Bloomberg Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion in cash, the latest in a series of shale industry tie-ups. The deal includes oil and gas producing properties and undeveloped acreage in New Mexico and West Texas owned by …
Matador to Buy Permian Oil Assets From EnCap for $1.9 Billion Read More »
(Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillipsthe $22 billion deal to …
How Devon Energy Missed Out on the U.S. Oil and Gas Mega-Deal Wave Read More »
O&G mergers are good for America because they increase domestic production, which makes oil cheaper and increases our national security. Government should get out of the way immediately. By Alex Epstein Myth: Oil and gas mergers are bad for America because they make oil more expensive. Truth: Oil and gas mergers are good for America …
COMMENTARY: Why Government Should Leave Oil and Gas Mergers Alone – Alex Epstein Read More »
