Locator: 48667B.
Israel: having spent a lot of time over the weekend reading
the various reports and the social media response, one really gets the
feeling that armchair analysts -- professional and amateur -- have no
idea how big a story that the Israeli response was.
One
hundred aircraft, most of them older model fighters (F-16s and F-15s)
and only a few stealthy fighters, slow-moving tankers, and I assume
AWACS, and telegraphing Iranians and Washington, DC, the attack was
about to come, and not one a/c was lost. Surgical strikes and not
hitting oil and nuclear sites per Biden's demand. And from what I can
tell, Iran's entire air defense system was taken out.
WSJ: link here. Actually we've seen this movie before. Nominees for the annual Geico Rock Award: Daniel Michaels, Rajesh Roy.
****************************
Back to the Bakken
WTI: $67.75.
Tuesday, October 29, 2024: 58 for the month; 58 for the quarter, 572 for the year
- 40592, conf, Oasis, Truax State Federal 5398 43-9 5B,
- 26450, conf, Grayson Mill, Hovland 150-99-26-35-4H,
- 26449, conf, Grayson Mill, Hovland 150-99-26-35-3H,
Monday, October 28, 2024: 55 for the month; 55 for the quarter, 569 for the year
- 40598, conf, CLR, Doe 7-23H,
- 40216, conf, Enerplus, Olson 146-97-3-10-6H
Sunday, October 27, 2024: 53 for the month; 53 for the quarter, 567 for the year
- 40215, conf, Enerplus, Olson 146-97-3-10-5H,
Saturday, October 26, 2024: 52 for the month; 52 for the quarter, 566 for the year
- 40597, conf, CLR, Doe 6-23H,
- 40591, conf, Oasis, Truax State Federal 5398 43-9 4B,
- 40214, conf, Enerplus, Olson 146-97-3-10-4H,
RBN Energy: Chevron trimming non-core assets in advance of closing on Hess deal. Archived.
The multibillion-dollar acquisitions that have become almost routine
in the upstream sector the past few years are typically accompanied by
asset rationalization — in other words, a thoughtful look at which
elements of the pro forma company make sense followed by the divestiture
of those that don’t. In many cases, a key aim of that rationalization
process is trimming any debt associated with the acquisition itself. In
today’s RBN blog, we’ll discuss the big steps Chevron has been taking to
rework its portfolio — and sell off up to $15 billion in assets — as it
inches toward closing on its $60 billion purchase of Hess Corp.
ExxonMobil’s $64.5 billion acquisition of Pioneer Natural Resources
($59.5 billion in stock plus the assumption of $5 billion of Pioneer
debt), which closed in May, may be the biggest individual upstream deal
ever. But when you add ’em up, Chevron’s M&A hat trick — Noble
Energy ($13 billion; closed in October 2020), PDC Energy ($7.6 billion;
closed in May 2023) and, most recently, Hess Corp. ($60 billion; closing
sometime next year) — gives the second-largest descendant of Standard
Oil bragging rights as the #1 upstream acquirer in recent history, with
deals totaling more than $73 billion, including the assumption of a
combined $17.5 billion of debt.
