Chevron to buy Anadarko for $33 billion in the biggest industry merger since 2016
- Chevron Corp on Friday said it will buy Anadarko Petroleum Corp for $33 billion in cash and stock as the company doubles down on its bet on U.S. shale oil and gas production, where the surge in output has made the United States the world’s largest energy producer.
U.S. crude oil production now surpasses 12 million barrels a day , and the nation is the third-largest producer of liquefied natural gas , the super-cooled fuel that is seeing record demand as a cheaper, cleaner alternative for countries that still rely heavily on coal for power generation. “It will be a continuous shift toward larger companies in basically all segments of the shale industry,” said Artem Abramov, head of shale research for Rystad Energy.
Chevron, Exxon, Royal Dutch Shell Plc and BP Plc largely missed out on the first phase of the shale bonanza while more nimble independent producers such as Anadarko pioneered shale drilling technology and leased Permian acreage on the cheap. “The acquisition makes the Majors’ peer group much more polarized. ExxonMobil, Chevron, Shell and BP are now in a league of their own.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chevron to buy Anadarko Petroleum in a $33 billion cash and stock dealChevron's agreement to acquire oil and gas producer Anadarko Petroleum values the company at $65 a share.
Read more »
Chevron to Buy Anadarko Petroleum in $33 Billion DealChevron is acquiring Anadarko Petroleum, an independent oil and gas exploration and production company, in a $33 billion deal.
Read more »
$33 billion deal in Big Oil: Chevron is buying Anadarko PetroleumChevron is paying $33 billion to acquire Anadarko Petroleum in a massive deal that will bolster its natural gas and shale operations.
Read more »
Chevron announces $33 billion cash-and-stock deal to buy Anadarko PetroleumEnergy giant Chevron Corp. on Friday morning said it would acquire Anadarko Petroleum Corp. in a cash-and-stock tie-up valued at $33 billion or $65 a share....
Read more »
Chevron buying Anadarko for $33 billion as crude prices riseChevron aims to grow stronger in deep water exploration in the gulf and southwest Texas
Read more »
Chevron to buy Anadarko for $33 billionChevron Corp said on Friday it would buy Anadarko Petroleum Corp for $33 billion...
Read more »
Chevron doubles down with $33 bln Anadarko swoopThe $239 bln U.S. oil giant is buying its domestic peer in a cash-and-shares deal. Hefty synergies more than cover the offered premium. As rivals try to become greener, Chevron is sticking to what it knows by buying big in global oil’s key growth area.
Read more »
Chevron buying Anadarko for $33B as crude prices riseSAN RAMON, Calif. (AP) — Chevron will buy Anadarko Petroleum for $33 billion in a cash-and-stock deal as the company seeks to grow stronger in deep water exploration in the gulf and the...
Read more »
Stock futures higher | Chevron to Buy Anadarko Petroleum | Banks report earningsStock futures are indicating an opening rally, as Wall Street tries to register another positive week.
Read more »
Oil shares jump after Chevron buys Anadarko and merger fever hits oil patchChevron's $33 billion acquisition of Anadarko sparks speculation the oil patch will see a new wave of consolidation.
Read more »