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
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
