ConocoPhillips looks beyond the Permian
Marathon deal indicative of a maturing shale industry amid greater consolidation and fewer acquisition targets
Superindie ConocoPhillips’ recently announced deal to buy Marathon Oil for $22.5b represents a shift in shale deal-making from a focus on a single basin—the Permian—to a major acquisition of a multi-basin operator. The deal is indicative of a maturing shale industry in which consolidation is ongoing and acreage is increasingly concentrated in the hands of a few major players. These players are looking for the best options available to them in terms of buying up remaining acreage. Others could follow ConocoPhillips’ lead in looking beyond the Permian, but the opportunities to do this are also relatively limited. Multi-basin deal ConocoPhillips’ acquisition of Marathon will add more than 2b bl
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
