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Started By
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Energy M&A, who's getting who?
Posted on 11/12/15 at 11:08 am
Posted on 11/12/15 at 11:08 am
Posted on 11/12/15 at 9:08 pm to GREENHEAD22
I can't imagine it being any of the majors to make a move excluding XOM. RDS has a lot of obligations to meet with the BG deal, Chevron is having some delays with major projects, and BP is BP.
Posted on 11/12/15 at 10:33 pm to GREENHEAD22
I don't know if xom will ever forgive themselves for the crosstimbers deal
Posted on 11/13/15 at 1:59 am to sneakytiger
Crosstimbers?
You dont keep that much powder dry not to use it.
And yes I would bet most are waiting for the slaughter that is coming with the smaller shale players to pick up their assets on the cheap.
You dont keep that much powder dry not to use it.
And yes I would bet most are waiting for the slaughter that is coming with the smaller shale players to pick up their assets on the cheap.
This post was edited on 11/13/15 at 2:01 am
Posted on 11/13/15 at 6:27 am to GREENHEAD22
XTO - Cross timbers
XOM generally keeps a larger reserve than they currently have on hand so that $320 number isn't out of the ordinary.
XOM generally keeps a larger reserve than they currently have on hand so that $320 number isn't out of the ordinary.
Posted on 11/13/15 at 7:31 am to GoldenD
I remember when they bought XTO but didn't read much into it, was younger. They overpaid?
Posted on 11/14/15 at 9:47 pm to GREENHEAD22
Much of XTO's portfolio was built on natural gas. Exxon paid a 25% premium at ~ $41 Billion including debt. Gas prices have dropped quite a bit since 2009 so that deal doesn't make a lot of sense at the moment. In the future, it could look great as we switch from using oil to more natural gas though.
Posted on 11/16/15 at 8:26 am to GoldenD
The targets will be companies who have proven reserves that cannot be produced profitably at current market prices, and suffer from negative cash flows. There are likely many publicly traded partnerships that will be gobbled up on the cheap that won't require as much due diligence and/or regulatory review that will be the first targets.
This is just my guess as an industry outsider with some experience analyzing PTP investments for clients. Many of the ones I've seen are very thinly capitalized and operate on very thin margins.
This is just my guess as an industry outsider with some experience analyzing PTP investments for clients. Many of the ones I've seen are very thinly capitalized and operate on very thin margins.
Posted on 11/17/15 at 10:47 am to GREENHEAD22
In somewhat related news:
Piper Jaffray Agrees to Acquire Energy Investment Bank, Simmons & Company International
Piper Jaffray Agrees to Acquire Energy Investment Bank, Simmons & Company International
Posted on 11/17/15 at 11:10 am to Poodlebrain
I'm surprised there hasn't been talk about CHK being bought out yet. They pretty much fit all the criteria and still have nice assets to pick from even with recent sell offs.
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