Pages

Wednesday, December 13, 2023

Two Wells Coming Off Confidential List -- December 13, 2023

Locator: 46291B.

WTI: $68.83. At least it's "green" today.

Thursday, December 14, 2023: 19 for the month; 168 for the quarter, 738 for the year
39292, conf, Hess, GO-TONG TRUST A-157-96-2032H-2,

Wednesday, December 13, 2023: 18 for the month; 167 for the quarter, 737 for the year
39716, conf, Petro-Hunt, Joel Goodsen 149-102-32C-29-1H, 

RBN Energy: our take on OXY's planned $12 billion acquisition of CrownRock.

It may be considerably smaller in scale than the recent ExxonMobil/Pioneer and Chevron/Hess megadeals, but Occidental Petroleum’s announcement that it will acquire privately held CrownRock LP for $12 billion is remarkable in its own right. Among other things, the deal will give Delaware Basin-focused Oxy a strong foothold in the absolute core of the Midland Basin, supercharge its free cash flow and — despite increasing Oxy’s debt in the short term — provide a pathway for the company to return much more money to shareholders via dividends and stock buybacks in the years ahead. In today’s RBN blog, we examine Oxy’s planned acquisition of CrownRock and what it means for the acquiring company and the Permian itself.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.