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Top related persons:
Andrew Dittmar - 5 Hess - 2 John Hess - 2 David French - 2 Greg Roumeliotis - 2 Marguerita Choy - 2 Dado Ruvic - 2 Mrinalika Roy - 2
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U.S Ukraine Guyana New York Bengaluru Washington Houston Dittmar . U.S
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Thomson - 5 Exxon - 4 Natural Resources - 4 Exxon Mobil - 3 Chevron - 3 PDC Energy - 3 Noble Energy - 2 Morningstar - 2

Search resuls for: "Andrew Dittmar"


9 mentions found


☆ Cash-rich Exxon, Chevron use stock for mega deals amid energy market jitters
  + stars: | 2023-10-24 | by ( David French | ) www.reuters.com   time to read: +5 min
Since our shareholders are getting Chevron stock, we get to participate in the upside, and also get a higher dividend," he said. He added that Hess shareholders who keep their shares in their combined company will see their dividend rise from $1.75 to $6 per share following the close of the deal. Exxon and Chevron are keen on these deals because they want to avoid the risk of exploring unproven reserves as oil and gas become scarcer. Exxon and Chevron had $29.5 billion and $9.3 billion in cash, respectively, as of the end of June. Keeping dividends and share buybacks strong helps compensate existing Exxon and Chevron shareholders for the dilution incurred in the all-stock acquisitions.
Persons: Hess, John Hess, Andrew Dittmar, David French, Greg Roumeliotis, Marguerita Choy Organizations: Exxon Mobil, Chevron, Exxon, Natural Resources, PDC Energy, Noble Energy, Morningstar, Anadarko, Occidental Petroleum, Thomson Locations: Ukraine, U.S, Guyana, New York
☆ Analysis: Cash-rich Exxon, Chevron use stock for mega deals amid energy market jitters
  + stars: | 2023-10-24 | by ( David French | ) www.reuters.com   time to read: +5 min
Since our shareholders are getting Chevron stock, we get to participate in the upside, and also get a higher dividend," he said. He added that Hess shareholders who keep their shares in their combined company will see their dividend rise from $1.75 to $6 per share following the close of the deal. Exxon and Chevron are keen on these deals because they want to avoid the risk of exploring unproven reserves as oil and gas become scarcer. Exxon and Chevron had $29.5 billion and $9.3 billion in cash, respectively, as of the end of June. Keeping dividends and share buybacks strong helps compensate existing Exxon and Chevron shareholders for the dilution incurred in the all-stock acquisitions.
Persons: Hess, John Hess, Andrew Dittmar, David French, Greg Roumeliotis, Marguerita Choy Organizations: Exxon Mobil, Chevron, Exxon, Natural Resources, PDC Energy, Noble Energy, Morningstar, Anadarko, Occidental Petroleum, Thomson Locations: Ukraine, U.S, Guyana, New York
☆ Exxon deal puts spotlight on M&A targets but heightened scrutiny a dampener
  + stars: | 2023-10-11 | by ( Mrinalika Roy | Thomson Reuters | Mrinalika Is A Business Reporter. She Has Covered The Energy | ) www.reuters.com   time to read: +3 min
Dealmaking in the U.S. oil and gas patch has picked up pace as producers sought to replenish their inventory after years of under-investment. The most-prized targets for Chevron could be Coterra Energy (CTRA.N) or Devon Energy (DVN.N), he added. Others mentioned included Matador Resources (MTDR.N), Permian Resources (PR.N) and Diamondback Energy (FANG.O). Still, the Exxon deal, the industry's largest since 2016, also set off worries about stiff regulatory scrutiny over anti-competitive concerns. Exxon does not anticipate antitrust hurdles to complete the deal, expected by early 2024.
Persons: Exxon Mobil's, Gabriele Sorbara, Siebert Williams Shank, Sorbara, Dado Ruvic, Andrew Dittmar, Elizabeth Warren, Sven Del Pozzo, Mrinalika Roy, Chris Sanders, Sriraj Organizations: Exxon, Natural Resources, Co, Chevron, ConocoPhillips, ExxonMobil, Pioneer, REUTERS, Devon Energy, Matador Resources, Diamondback Energy, U.S, P, Insights, Thomson Locations: U.S, Bengaluru, Washington
☆ Pioneer shares jump on Exxon mega-merger talks
  + stars: | 2023-10-06 | by ( Mrinalika Roy Sabrina Valle | Mrinalika Roy | Sabrina Valle | ) www.reuters.com   time to read: +3 min
Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Exxon shares were down 1.6%Friday's gains leave the stock short of the offer, as it is possible that the two companies will not reach an agreement. If the negotiations conclude successfully, an agreement between Exxon and Pioneer could be reached in the coming days, Reuters reported on Thursday, citing three sources. "Pioneer is the Permian's largest operator at 9% of gross production while Exxon is No. Combined amounts to 15% of operated Permian production, but only 6% of total US production.
Persons: Dado Ruvic, Andrew Dittmar, Enverus, Scott Hanold, Bill Smead, Mrinalika Roy, Sourasis Bose, Arunima Kumar, Sabrina Valle, Sriraj Organizations: Exxon Mobil, REUTERS, Natural Resources, Mobil, Reuters Graphics, Exxon, Pioneer, Reuters, RBC Capital, Smead Capital Management, Thomson, & $ Locations: Bengaluru, Houston
☆ US oil M&A jumps as private equity unloads shale assets
  + stars: | 2023-07-25 | by ( Gary Mcwilliams | ) www.reuters.com   time to read: +2 min
HOUSTON, July 25 (Reuters) - U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. The surge was due in part to energy focused private equity firms EnCap Investments and NGP Energy Capital selling off a combined six portfolio companies. In total, $14 billion in private equity-owned assets have changed hands this year, Enverus said. Private equity firms have moved away from oil deals, with only 10 new exploration and production firm investments this year compared to 100 per year last decade, Enverus said. Most M&A was in the top U.S. shale field as companies looked to add oil acreage, Enverus' Dittmar said.
Persons: Enverus, Andrew Dittmar, Jon Platt, Baker Botts, Dittmar, Gary McWilliams, Nick Zieminski Organizations: EnCap Investments, NGP Energy Capital, Civitas Resources, PDC Energy, Thomson Locations: U.S, Dittmar . U.S
☆ Permian in spotlight as energy dealmaking gathers steam
  + stars: | 2023-04-18 | by ( Mrinalika Roy | Thomson Reuters | Mrinalika Is A Business Reporter. She Has Covered The Energy | ) www.reuters.com   time to read: +3 min
Top producers have built a war chest to fund acquisitions after reaping windfall profit in 2022 from skyrocketing oil prices following Russia's invasion of Ukraine. At least three analysts have identified Diamondback Energy Inc (FANG.O), Matador Resources Inc (MTDR.N) and Permian Resources Corp (PR.N) as possible takeout targets. The shale patch, which lies between Texas and New Mexico, has the necessary infrastructure and is known for high productivity and large undeveloped reserves. But a surge in oil prices last year helped turn the tide. Last week, ConocoPhillips (COP.N) CEO Ryan Lance said he was expecting more shale deals, adding that "consolidation needs to happen" among Permian Basin energy producers.
☆ As natural gas prices tumble, new worries for U.S. shale patch
  + stars: | 2023-02-09 | by ( Liz Hampton | ) www.reuters.com   time to read: +2 min
Feb 9 (Reuters) - A 46% drop in natural gas prices this year is rippling across the U.S. shale patch, threatening to slow drilling and chill deal-making in a move unthinkable six months ago as global demand soared. Analysts are chopping their outlook for gas prices this year, and for production and earnings. Such moves were unfathomable six months ago as Russia reduced its gas flows to Europe and U.S. gas became a hot commodity. Analysts expect gas drilling rigs to fall beginning this month. Prices will remain around $2.50 per mmBtu this summer, down from an earlier $3.50 per mmBtu outlook, predicts energy technology firm Enverus.
☆ U.S. oil & gas M&A hit 17-year low; big firms dominate deals-report
  + stars: | 2023-01-24 | by ( Liz Hampton | ) www.reuters.com   time to read: +2 min
Oil companies are also grappling with less productive wells, with some viewing asset purchases as a way to keep oil and gas flowing. Larger companies with better inventories tend to have a premium built into their stock, giving them more buying power, Enverus wrote. "It's a market where the rich get richer," said Andrew Dittmar, a director at Enverus who focuses on mergers and acquisitions. Publicly traded U.S. shale firm Diamondback Energy (FANG.O) added some 500 drilling locations to its portfolio by spending $3 billion to purchase Lario Oil & Gas and Firebird Energy during the fourth quarter. Diamondback's added inventory was "more of a luxury than a necessity," Dittmar said of those deals.
☆ Oil production picking up in second-largest U.S. shale field
  + stars: | 2023-01-18 | by ( Stephanie Kelly | Thomson Reuters | A New-York-Based Correspondent Covering The U.S. Crude Market | ) www.reuters.com   time to read: +2 min
Output in the Eagle Ford shale field tanked in 2020, but has returned to growth with an average increase per month of about 17,000 barrels per bay (bpd) in the back half of 2022, according to U.S. government data. Its gains will help keep U.S. output rising as the Permian basin, the largest U.S. shale field, has slowed rapidly in the last year. The Eagle Ford is close to existing and proposed liquefied natural gas terminals, offering producers more buyers for their gas. February's Eagle Ford oil production is forecast to hit 1.2 million bpd, the most since April 2020, according to data from the Energy Information Administration. GRAPHIC: Eagle Ford oil rig count rises to highest since March 2019 https://graphics.reuters.com/USA-OIL/EAGLE/dwpkdazxgvm/Reporting by Stephanie Kelly; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.
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