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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

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

AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N) and Jetblue Airways (JBLU.O) negotiated new job contracts this year. Members of some unions like the Southwest Airlines Pilots Association have voted to authorize a strike if a new contract is not reached. MANUFACTURINGU.S. steel producer Cleveland-Cliffs (CLF.N) has reached a tentative agreement with the United Steelworkers union on a new three-year labor agreement for its Northshore mining operations. The Detroit Casino Council (DCC), which represents the workers, could call for strikes as soon as mid-October, when contracts expire. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July.

Persons: Sergio Martinez, Mike Blake, Mack Trucks, isn't, Mrinalika Roy, Sriraj Organizations: REUTERS, U.S . Bureau of Labor Statistics, Reuters, Alliance, Television Producers, SAG, Hollywood, United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Chrysler, Volvo Group, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Steelworkers, U.S . Steel, Unions, Vegas, MGM, Detroit, MotorCity, Detroit Casino Council, Kaiser Permanente, Workers, Green Thumb Industries, Labor, Phillips, Thomson Locations: Los Angeles , California, U.S, Michigan , Ohio, Missouri, Wichita , Kansas, Cleveland, Detroit, Hollywood, Greektown, Los Angeles, New York City, Chicago, Illinois, New Jersey, Roxana , Illinois, Bengaluru

REUTERS/Charles Mostoller/File Photo Acquire Licensing RightsSept 21 (Reuters) - Magellan Midstream Partners' (MMP.N) unitholders on Thursday voted in favour of its sale to larger rival ONEOK Inc (OKE.N) for $18.8 billion, creating one of the largest U.S. energy pipeline companies. Independent proxy advisory firms Glass Lewis & Co and ISS had recommended a vote in favor of the sale. Magellan, in its proxy, cautions that the merger is not conditioned on the compensation vote and that if the acquisition is approved, the executive compensation is payable. Michael Mears, Magellan's previous chief executive officer, also would receive about $26.5 million in equity, while the company's current chief commercial officer and general council will receive multi-million dollar packages. Magellan, however, said it expects ONEOK to consider the outcome of the compensation vote, along with other factors, when considering future executive pay.

Persons: Charles Mostoller, unitholders, Glass, Aaron Milford, Jeff Holman, Michael Mears, Magellan's, ONEOK, Mrinalika Roy, Gary McWilliams, Sharon Singleton Organizations: REUTERS, Midstream Partners, ONEOK Inc, Energy, Partners, Glass Lewis, Co, ISS, Thomson Locations: Elliston , Virginia, U.S, Magellan, Bengaluru, Arathy, Houston

The deal is seen as a bet on the future of natural gas in a regulated market even as energy companies and consumers are transitioning to a greener future by phasing out fossil fuels. But some analysts were surprised at the timing, the scale and impact such a deal would have on the company's already leveraged balance sheet. Enbridge struck the deal just over a month after CEO Greg Ebel told analysts the company saw 'tuck-in' acquisition opportunities 'across the board'. By late morning, Enbridge shares were down 5.5% at C$45.50, while the benchmark Canadian share index was off 0.5%. Enbridge is selling new shares at a discount of 7.2% to its Tuesday close to part-fund the transaction.

Persons: Chris Helgren, Moody's, Morningstar, Stephen Ellis, Ellis, Enbridge, Greg Ebel, Wells, Mrinalika Roy, Denny Thomas, Anil D'Silva, Alexandra Hudson Organizations: REUTERS, Enbridge, Dominion Energy, East Ohio Gas, Public Service Co, Management, TC Energy, Alexandra Hudson Our, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, North Carolina, North America, company's, Bengaluru

The logo of Calgary-based Enbridge, one of North America's largest energy infrastructure companies, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. Analysts, however, were surprised at the timing, the scale and impact such a deal would have on the company's already leveraged balance sheet. "I don't see how you can keep piling more issuance - debt and equity - on this company at these rates. Enbridge shares provisionally closed down 5.9% at C$45.31, while the benchmark Canadian share index was off 0.9%. "While Enbridge paid a reasonable price, high leverage and funding gap could act as overhang," Wells Fargo analysts said in a note.

Persons: Chris Helgren, Ryan Bushell, Enbridge, Greg Ebel, Morningstar, Stephen Ellis, Ellis, Wells, Alan Armstrong, Mrinalika Roy, Nia Williams, Denny Thomas, Anil D'Silva, Alexandra Hudson, Devika, Marguerita Choy Organizations: REUTERS, Dominion Energy, Ohio Gas, Public Service Co, Newhaven Asset Management, Management, TC Energy, Williams Companies, Barclays CEO Energy, Power Conference, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, North Carolina, North America, Newhaven, Enbridge, New York, Bengaluru

REUTERS/Brendan McDermid/File PhotoCompanies Conocophillips FollowOccidental Petroleum Corp FollowAug 3 (Reuters) - ConocoPhillips (COP.N) slightly raised its full-year output expectations on Thursday, even as it posted a lower-than-expected quarterly profit. That helped the company raise its full-year production outlook for a second time this year and now expects it to range between 1.80 million boepd and 1.81 million boepd. The company in May said it expected production between 1.78 million boepd and 1.80 million boepd. ConocoPhillips also narrowed its capital spending guidance range to between $10.8 billion and $11.2 billion, from previous guidance of $10.7 billion to $11.3 billion. Rival Occidental Petroleum (OXY.N) on Wednesday had also raised its full-year production forecast, but missed second-quarter profit expectations due to the slide in prices.

Persons: Brendan McDermid, Arathy Somasekhar, Mrinalika Roy, Shinjini Ganguli, Toby Chopra Organizations: ConocoPhillips, New York Stock Exchange, REUTERS, Conocophillips, Occidental Petroleum Corp, Rival Occidental Petroleum, Thomson Locations: New York, U.S, Houston, Bengaluru

REUTERS/Brendan McDermidAug 2 (Reuters) - Occidental Petroleum (OXY.N) on Wednesday raised its full-year production forecast by 1%, but missed second-quarter profit expectations due to a slide in oil and gas prices and took a writedown to exit some operations. Weak oil and gas prices have hit earnings of U.S. oil producers after a bumper year in 2022 when Russia's invasion of Ukraine buoyed energy prices. The better-than-expected output in the quarter also helped the company raise its full-year production guidance by 1% to between 1.19 million boepd and 1.24 million boepd, from a midpoint of 1.195 million previously. Meanwhile, rival U.S. oil producers Marathon Oil (MRO.N) and APA Corp (APA.O) reported quarterly earnings that beat analysts' estimates on higher than projected output. Apache said output was tracking in line with its full-year production guidance of 404,000 to 408,000 boepd.

Persons: Brendan McDermid, Mrinalika Roy, Arun Koyyur, Matthew Lewis Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Oil, APA Corp, Apache, Thomson Locations: New York, U.S, Ukraine, Occidental, Suriname, Bengaluru, Arathy, Houston

Miniatures of solar panel and electric pole are seen in front of SolarEdge logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/IllustrationCompanies Solaredge Technologies Inc FollowAug 1 (Reuters) - SolarEdge Technologies (SEDG.O) forecast third-quarter revenue below Wall Street estimates as demand slows for its solar inverters in the United States and Europe, sending its shares nearly 13% lower in extended trading on Tuesday. The U.S. solar market has been dented by low electricity prices, high borrowing costs and a new metering reform in California, the country's largest solar market. SolarEdge expects third-quarter revenue to average between $880 million and $920 million, compared with analysts' estimates of $1.05 billion, according to Refinitiv data. U.S. solar revenue, however, decreased 23% compared with the last quarter.

Persons: Dado Ruvic, SolarEdge, Johnson Gordon, Zvi Lando, Lando, Mrinalika Roy, Sourasis Bose, Devika Organizations: REUTERS, Technologies, SolarEdge Technologies, Wall, Thomson Locations: United States, Europe, U.S, California, Herzliya, Israel, Germany, Bengaluru

July 20 (Reuters) - New York Governor Kathy Hochul on Thursday directed state departments to investigate health risks associated with old lead-clad cables left by telecommunication companies. The Wall Street Journal this month reported that telecom companies, including AT&T (T.N) and Verizon Communications (VZ.N), had left toxic lead cables on poles, underwater and buried under ground across the U.S. including in New York. The investigation is to better understand the inventory and ownership of such cables in New York, Hochul said. "AT&T’s commitment to addressing our members’ exposure to lead must go beyond point-in-time testing of blood lead levels and incorporate proper follow up," the union said. U.S. Representative Pat Ryan of New York on Thursday wrote to the CEOs of Verizon, AT&T and industry group U.S. Telecom, demanding that they remove lead cables.

Persons: Kathy Hochul, Hochul, John Stankey, Jessica Rosenworcel, Rosenworcel, Pat Ryan, Ryan, Mrinalika Roy, Vinay Dwivedi, Marguerita Choy Organizations: Verizon Communications, Verizon, The Communications Workers, America, Federal Communications, Environmental Protection Agency, White House Council, Environmental, U.S . Telecom, Thomson Locations: New, New York, Bengaluru

June 20 (Reuters) - Civitas Resources (CIVI.N) said on Tuesday it would acquire oil and gas operations in the Permian basin managed by private equity firm NGP Energy Capital Management for $4.7 billion, expanding its operations into the lucrative shale patch. The deal is transformative for Civitas, which until now operated solely in Colorado's Denver-Julesburg (DJ) basin. Under the terms, Civitas has agreed to purchase a portion of Tap Rock Resources' assets and all of Hibernia Energy III's operations. "Simply put, these transactions make Civitas a better company, and we see tremendous opportunity to add value in the Permian that will complement our leading oil position in the DJ basin," Civitas Chief Executive Chris Doyle told analysts. News of the deal, which Reuters was first to report on Monday, sent Civitas' shares 8% lower.

Persons: Civitas, Chris Doyle, Ben Dell, David French, Mrinalika Roy, Shilpi Majumdar, Emelia Organizations: Civitas Resources, NGP Energy Capital Management, Rock Resources, Hibernia Energy, Reuters, Thomson Locations: Colorado's Denver, U.S, Rock, DJ, Texas, New Mexico, Denver, New York, Bengaluru

REUTERS/Nadja Wohlleben/File PhotoApril 20 (Reuters) - From cannabis-infused flowers to edible weed gummies, marijuana companies are pulling out all the stops as they eye bumper sales on April 20 - a day referred to as "4/20" in weed culture. Industry insiders expect highest single-day sales ever for the cannabis sector on Thursday even as the industry faces increased scrutiny from lawmakers in the United States. 4/20, derived from a trope for smoking marijuana, typically sees cannabis companies such as High Tide, Canopy Growth (WEED.TO), and Trulieve Cannabis Corp (TRUL.CD) amp up promotions, throwing in exclusive deals and discounts to lure customers. Wholesale cannabis platform Leaflink expects sales of infused flowers and pre-rolled joints to jump 500%-1,000% compared to 2022. According to seasonality data from cannabis data firm BDSA, cannabis retailers see more sales on Thursdays than on Wednesdays and Tuesdays.

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.

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