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sneakytiger
LSU Fan
Member since Oct 2007
2230 posts

re: Chevron buying APC for 33B
Wonder what this means for downtown Houston and the woodlands. I know Chevron has consolidated a lot downtown


tiger09
LSU Fan
Houston, TX
Member since Jan 2015
98 posts

re: Chevron buying APC for 33B
Unless CVX puts APC folks in tents on the lawn where they didn’t build a third tower, I think they are going to have to leave some in TW for a while. Not a lot of empty space in their current building.


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Jp1LSU
LSU Fan
Key West
Member since Oct 2005
1252 posts

re: Chevron buying APC for 33B
Wish they would have bought CHK.
Everyone holding in the Permian went up today. I’ve bought and sold CPE 30 times in the past 4-5 years. At some point someone is going to buy them up. The old man Fred died a few years ago and they moved from Natchez to Texas but I think they will sell out at some point.


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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
12801 posts

re: Chevron buying APC for 33B
Yup, I think BP is going to make another purchase. CP is another with cash piled up.

A little bit of a gamble though with the huge decline rates in these fields. They must be thinking with EOR R&D they can make it big. That and the higher oil prices I think we will see in the future.
This post was edited on 4/12 at 2:28 pm


C
Atlanta Falcons Fan
Houston
Member since Dec 2007
25655 posts
 Online 

re: Chevron buying APC for 33B
APC has some great assets. Their problem has been major projects and their ability to capitalize. I’m really surprised XOM didn’t make this offer or better.


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Volt
LSU Fan
In the woods near Kentwood
Member since Nov 2009
2265 posts

re: Chevron buying APC for 33B
My mom just told me about this. She works for a private oil and gas exploration company that’s about 1/2 mile from the APC towers in The Woodlands.

They had multiple conference calls today because of this news.


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Member since 2001
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thegreatboudini
McNeese State Fan
Member since Oct 2008
4142 posts

re: Chevron buying APC for 33B
quote:

That and the higher oil prices I think we will see in the future.


It’ll tick up to 70 then fall to 40 just like it did last year. These operators continue to show they’re not financially disciplined. Last year they returned 30B to share holders. Sounds great, but 22B of that was via divestments.

The volatility will never escape this industry.


GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
12801 posts

re: Chevron buying APC for 33B
As more and more of the smaller and midsize operators get acquired or fold up you will see a lot less volatility.


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abitabrewed4LSU
LSU Fan
Houston, TX
Member since Feb 2009
880 posts

re: Chevron buying APC for 33B
quote:

Yup, I think BP is going to make another purchase.


What makes you think this? Just curious.


bluewing
Duke Fan
south
Member since Jun 2013
10 posts

re: Chevron buying APC for 33B
Holding on APC stocks or Selling?


castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
57013 posts

re: Chevron buying APC for 33B
Honestly, why would you? Do you think oxy makes an unsolicited, better offer?
Doubt they make after being blindsided last week. Plus there's a 3% fee if apc breaks the deal.


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hubertcumberdale
LSU Fan
Member since Nov 2009
769 posts

re: Chevron buying APC for 33B
Did anyone see or hear what investment banks worked this deal? Couldnt find anything online after a brief search, but I imagine the bankers had quite the payday from a transaction this large


Enfuego
Tulane Fan
Houston
Member since Mar 2009
9309 posts

re: Chevron buying APC for 33B
Credit Suisse advised Chevron; Evercore and Goldman for APC. From what I’ve heard Evercore did most of the heavy lifting through a quiet, long term sellside for APC. Chevron probably did their own diligence in house and most likely tapped CS only weeks before announcement for fairness opinion and admin purposes. Similarly Goldman is probably working the fairness for Chevron. If I had to guess Evercore made the monster fee. Great cred for all banks involved though.


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