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☆ 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

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

☆ ‘Monster Fracks’ Are Getting Far Bigger. And Far Thirstier.
▼ + stars: | 2023-09-25 | by ( Hiroko Tabuchi | Blacki Migliozzi | ) www.nytimes.com time to read: +23 min

Dallas TEXAS Austin Houston San Antonio Dallas TEXAS Austin Houston San Antonio TEXAS TEXAS Amarillo Lubbock Dallas El Paso TEXAS Austin Houston San Antonio Corpus Christi UNCHARTED WATERS ‘Monster Fracks’ Are Getting Far Bigger. Water wells that supply fracking Nationwide, fracking has used up nearly 1.5 trillion gallons of water since 2011. Now they account for almost two out of every three fracking wells in Texas, the Times analysis found. ‘Monster fracks’ take off in Texas Proportion of fracks Source: FracFocus chemical disclosure database as of Aug. 1, 2023. In 2020, New Mexico halted sales of water supplies to oil and gas companies fracking on state land.

☆ Chevron offers to sell oil and gas properties in New Mexico, Texas
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

HOUSTON, June 29 (Reuters) - Chevron (CVX.N) is offering to sell several oil and gas properties in New Mexico and Texas, according to marketing documents seen by Reuters, as the U.S. oil major looks to cull acreage after major shale acquisitions. The second-largest U.S. oil and gas producer last month agreed to buy shale firm PDC Energy Inc (PDCE.O) in a stock-and-debt deal worth $7.6 billion. In 2020, it acquired Noble Energy in a move that boosted its U.S. shale and international gas holdings. Chevron has been divesting properties in the Permian Basin of West Texas and New Mexico, where it is the largest publicly-traded oil and gas producer and the largest property owner with 2.2 million acres. Production at the larger parcel on offer was estimated at about 770,000 barrels of oil and gas net and the smaller parcel was estimated to be about 1,818 barrels of oil and gas equivalent (boe) per day, according to the documents.

Persons: Arathy Somasekhar Organizations: Chevron, Reuters, Energy Inc, Noble Energy, Thomson Locations: New Mexico, Texas, U.S, West Texas, Houston

☆ Why any M&A boom in banks will mirror shale oil in 2020 — all-stock offers and small premiums
▼ + stars: | 2023-06-27 | by ( Scott Schnipper | ) www.cnbc.com time to read: +2 min

Pioneer Natural bought Parsley Energy at an 8% premium. Devon Energy bought WPX Energy at a 3% premium. Bilson points to Yellen last week highlighting a likely decline in earnings when banks report second-quarter earnings next month. That's already reflected in plenty of well-known banks "now trading with mid-single digit forward EPS multiples" as they are suddenly forced to pay more for their deposits, Bilson wrote. There are other hurdles standing in the way of bank deals, Bank of America analysts led by Ebrahim Poonawala said Monday.

Persons: Janet Yellen, there'll, Don Bilson, Gordon Haskett, Bilson, Ebrahim Poonawala, dealmaking, Poonawala, — CNBC's Michael Bloom Organizations: Silicon Valley Bank, Signature Bank, First, Federal Reserve, Dominion, Chevron, Noble Energy, ConocoPhillips, Concho Resources, Energy, Devon Energy, WPX Energy, Yellen, Bank of America, Regulators, U.S . Department of Justice, Federal Trade Commission, MTM Locations: U.S, Wall, Silicon, Toronto, Concho

☆ Chevron to buy PDC Energy in $7.6 billion deal
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Chevron Corp (CVX.N) said on Monday it would acquire PDC Energy Inc (PDCE.O) in an all-stock transaction for $7.6 billion, including debt, adding new drilling inventory to its U.S. oil and gas reserves. The PDC Energy deal is the second in three years that bulks up Chevron's shale operations in Colorado and Wyoming. Chevron is already one of the larger producers in the Denver-Julesburg Basin after its acquisition of Noble Energy in 2020 for $13 billion. The PDC deal is expected to add $1 billion to annual free cash flow for Chevron. The deal values PDC at $72 per share, representing a premium of 10.56% to Friday's close and carries the equity value of $6.3 billion.

☆ Chevron’s CEO short-termism has benefits
▼ + stars: | 2023-02-13 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

That helps explain why the $330 billion oil giant is considering extending his contract beyond mandatory retirement age, according to the Wall Street Journal. Wirth faces mandatory retirement in 2025 when he turns 65, a stipulation that was in place when the company appointed him to be CEO in 2018. Chevron's operating margin last year was 18%, the highest in four decades, and the firm earned a record $35 billion. A year later, after oil prices had fallen by a third, Wirth launched a deal to buy Noble Energy on the cheap. If so, oil companies will be well served by executives who can squeeze additional pennies out of existing production, while buying potentially available rivals when they are cheap.

☆ Bank of America downgrades Chevron, calls energy stock a 'victim of its own success'
▼ + stars: | 2023-01-06 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Chevron likely won't see as large of gains as it did in 2022, Bank of America warned. Analyst Doug Leggate downgraded the stock to neutral from buy on Friday. The stock gained more than 50% in 2022 as energy prices soared following Russia's invasion of Ukraine. Still, Leggate said Chevron leads oil producers in capital discipline and has been able to execute large-scale projects following the 2015 drop in oil prices. He also said the acquisition of Noble Energy would "add long life production with options built around regional exploration."

Текущее состояние и прогнозы добычи нефти в США — по-прежнему актуальная тема для наблюдений. Кстати, на ноябрь этот обзор предполагает новое снижение сланцевой добычи нефти в США. Одновременно над всеми этими оценками нависают известные финансовые трудности сланцевых компаний. В свою очередь, в компаниях среднего размера Devon Energy купил WPX Energy, а Pioneer Natural Resources обсуждает поглощение Parsley Energy. Chevron после поглощения Noble Energy стал вторым по объему добытчиком сланцевой нефти в США.

Organizations: Oasis Petroleum, ExxonMobil Chevron, ConocoPhillips, ConocoPhillips Concho Resources, Chevron Noble Energy, Devon Energy WPX Energy, Resources Parsley Energy, ExxonMobil, Sputnik Moldova, РИА Новости, Минэнерго, Oasis Petroleum, ExxonMobil, Chevron, ConocoPhillips, Concho Resources, Noble Energy, Devon Energy, WPX Energy, Pioneer Natural Resources, Parsley Energy, ТНК, Telegram, Video, Radio Sputnik Moldova Locations: ConocoPhillips Concho, США, Мексиканский залив, Восточное Средиземноморье, Молдова

Apropo, pentru noiembrie această analiză prevede o nouă scădere a producției petrolului de șist în SUA. Lanțul de falimente ale companiilor mici și medii a început și continua. Până la criză, doi mari giganți din domeniu petrolului și gazelor, ExxonMobil și Chevron, investiseră în extracțiile de șist și chiar au intrat într-o competiție. Totuși, criza în sfera petrolului a provocat și un alt efect: stabilitatea financiară a companiilor, care absorb producătorii de șist, a devenit mult mai scăzută. În esență cele mai mari corporații transnaționale și-au propus să salveze producția de șist prin ponderea lor și stabilitatea financiară.

Persons: Aleksandr Sobko, ConocoPhillips, Chevron Organizations: Sputnik, Ministerului Energiei, Energy, Pioneer Natural, Aleksandr Sobko, ExxonMobil și Chevron, ConocoPhillips, Chevron, ExxonMobil Locations: MOSCOVA, SUA, Mexic, Chevron, american, Mediterană de Est, Devon Energy

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