Are they really in a position to make any large acquisition though? I really don't know much about their financials right now beyond they seemed to trade debt for stock to Buffet.
Houston..we have a problem....
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It would not be ideal.
Interesting quote from the article:
I wonder what that looks like as a historical index.
Quote:
"We've got too many CEOs per BOE (barrels of oil equivalent), so consolidation is natural," said Chevron Chief Executive Michael Wirth, adding the world could expect to see other deals.
I wonder what that looks like as a historical index.
I work at Hess in procurement. We have a town hall at noon. I doubt we get many details but everyone has anxiety over their future employment.
No kidding, that's ripe for some massive consolidation unfortunately
Hope you make it through brothermaroonbleeder said:
I work at Hess in procurement. We have a town hall at noon. I doubt we get many details but everyone has anxiety over their future employment.
Agree, keep your head down and be open to what CVX comes with.
XOM goes big in the Permian with an acquisition, CVX goes big in Guyana with Hess. Any bets on OXY, P 66, Valero, etc.?
Anybody have any idea what direction BP is heading in?
In what sense?Furlock Bones said:
Anybody have any idea what direction BP is heading in?
Who ever they bring in as CEO. That persons background will give a good indication. And I'm sure they will refresh their strategy!
everyone else is in buy mode and they announced earlier this month a potential sale of their stake in US O&G pipelines for $1B "to help BP meet its targets to reduce debt and maintain its dividend". $1B seems like chump change.Charlie Murphy said:In what sense?Furlock Bones said:
Anybody have any idea what direction BP is heading in?
BP heavily involved in the CCUS/Hydrogen Hub game in the Midwest
With Looney Tunes out hopefully back in the right directionFurlock Bones said:
Anybody have any idea what direction BP is heading in?
good point.Owen Kellogg said:
Who ever they bring in as CEO. That persons background will give a good indication. And I'm sure they will refresh their strategy!
Maybe. BP America is the tail that wags the dog financially at 75%+ of BP's entire revenue ($183.5B vs $241.4B in 2022).Furlock Bones said:good point.Owen Kellogg said:
Who ever they bring in as CEO. That persons background will give a good indication. And I'm sure they will refresh their strategy!
Neither the B nor the P stand for what they originally did. Read into that what you will.Furlock Bones said:
Anybody have any idea what direction BP is heading in?
Yes they do, but after the PXD acquisition, XOM slammed to accelerator and was leaving CVX behind. XOM had Guyana which was the huge differentiator. Now XOM's Guyana success is CVX as well. CVX needed this to keep up with XOM.aggiesundevil4 said:
XOM and CVX partner a lot though - Australia and Kazakhstan are two very big examples
As long as Helge Lund is still around I wouldnt expect many changes.Dill-Ag13 said:With Looney Tunes out hopefully back in the right directionFurlock Bones said:
Anybody have any idea what direction BP is heading in?
I dunno about all of that. I think CVX runs a good shop and Hess having good assets and a strong company to fold in trumped most "competitive" items.
I think you start to see pretty significant consolidation in gas names and the small/mid publics.
Curious if Conoco makes a move. They timed their A&D better than XOM and Shell.
I think you start to see pretty significant consolidation in gas names and the small/mid publics.
Curious if Conoco makes a move. They timed their A&D better than XOM and Shell.
I'm wondering if CVX will honor existing contracts with certain service companies? There are a few long term in place...
Diamondback or Matador maybe next....Cyp0111 said:
I dunno about all of that. I think CVX runs a good shop and Hess having good assets and a strong company to fold in trumped most "competitive" items.
I think you start to see pretty significant consolidation in gas names and the small/mid publics.
Curious if Conoco makes a move. They timed their A&D better than XOM and Shell.
Been wondering about diamonback as well.
Cyp0111 said:
Curious if Conoco makes a move. They timed their A&D better than XOM and Shell.
COP knocked it out of the park with CXO and Shell Permian acquisitions. Their timing was great. Ryan Lance is always talking a big game of needing further consolidation in the Permian. Wouldn't doubt they're looking for another buy candidate.
Diamondbacks acreage in looks contiguous to PXD, maybe XOM eventually
Although not a public company, my bet is Endeavor is XOMs next large Permian purchase. Bolt on to PXD acreage.
Autry may sell, but he hasn't yet. Would be a nice chunk of change for him. He is on the older side so who knows...Maverick06 said:
Although not a public company, my bet is Endeavor is XOMs next large Permian purchase. Bolt on to PXD acreage.
And I'm pretty sure dealing with stage 4 brain cancer
Did not know this.txaggie_08 said:
And I'm pretty sure dealing with stage 4 brain cancer
I had heard this idea floated about 3 times in the past 4-5 months from people at PXD.Maverick06 said:
Although not a public company, my bet is Endeavor is XOMs next large Permian purchase. Bolt on to PXD acreage.
txaggie_08 said:
And I'm pretty sure dealing with stage 4 brain cancer
I've heard that once the kids take control of the company, it will be sold.
I think you realistically have the follow acquisition targets in the Permian.
Oxy, Devon, Diamondback, Permian Resources and a few larger privates.
I also think you see further consolidation in the Bakken and Appalachia.
News on the CHK/Southwestern. I bet you see another move or two.
Someone needs to consolidate the larger Haynesville and maybe the Aethon hb is in a place where the exit covers. However, I'm not sure who bites on that.
You have groups like Apache and the like that also should probably not exist anymore.
Oxy, Devon, Diamondback, Permian Resources and a few larger privates.
I also think you see further consolidation in the Bakken and Appalachia.
News on the CHK/Southwestern. I bet you see another move or two.
Someone needs to consolidate the larger Haynesville and maybe the Aethon hb is in a place where the exit covers. However, I'm not sure who bites on that.
You have groups like Apache and the like that also should probably not exist anymore.
Oxy has too much debt. They are around $18B. DVN and FANG around $6B.
DVN, FANG, CTRA, MRO, APA, MTDR, PRC are buyable
DVN, FANG, CTRA, MRO, APA, MTDR, PRC are buyable
Agree, I put Oxy there just due to size and agree their debt load makes any deal unlikely.
This is a good deal for both companies. Sure there will be some reduction in headcount, but I think it will be on both sides. Getting Guyana is huge for CVX especially with how miserable their exploration campaigns have been going the last few years. This brings more options of career development to the workforce which is what everyone wants.
My wife is working in the integration team so I should be getting good information in the deal moving forward. It's expecting to take almost a year to finalize the integration, multiple business units are impacted here.
My wife is working in the integration team so I should be getting good information in the deal moving forward. It's expecting to take almost a year to finalize the integration, multiple business units are impacted here.
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