Permian M&A faces challenges
Expectations of a post-Anadarko flurry of merger and acquisition activity in the prolific shale basin may be wide of the mark
The hottest question in US energy M&A is whether the bidding war between Chevron and Occidental Petroleum for independent producer Anadarko Petroleum was a one-time event, specific to the assets and ambitions of the three players involved, or whether it will kickstart a flurry of Permian Basin-focused deal-making. US independent Occidental trumped Chevron, which had agreed to buy Anadarko for $65/share — a 39pc premium on Anadarko's last closing price prior to the announcement — laying out $33bn plus the assumption of $17bn of debt, for a total cost of $50bn. Occidental, with a little help from billionaire investor Warren Buffett, upped the price to $38bn, leading Chevron to abandon the
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
