Encana Corp.’s well costs in the Anadarko Basin have fallen by about $1 million since it completed the Newfield Exploration Co. merger in February, with a “line of sight to significantly more savings” in the months ahead, the Calgary-based independent said Tuesday.
Articles from Anadarko
Anadarko Petroleum Corp. said Monday it is going back to the table to discuss a mega-merger with Occidental Petroleum Corp. (Oxy), even though it has a definitive agreement with Chevron Corp. that includes a $1 billion breakup fee.
Anadarko Petroleum Corp., now caught in an expensive bidding war between Chevron Corp. and Occidental Petroleum Corp., reported its first quarter oil, natural gas and natural gas liquids volumes totaled 64 million boe, or around 715,000 boe/d.
Chevron Corp. increased its upstream oil and natural gas volumes by 7% during the first three months of the year, but investors Friday were more keen for details about the potential takeover of Anadarko Petroleum Corp.
Houston-based Occidental Petroleum Corp. (Oxy) on Wednesday took Chevron Corp. to the mat for Anadarko Petroleum Corp. with a cash-and-stock offer estimated to be a 20% premium to the supermajor’s bid earlier this month.
Financial analysts on Wednesday said the bidding war for Anadarko Petroleum Corp. by Chevron Corp. and Occidental Petroleum Corp. was unheard of in the exploration and production (E&P) sector.
Houston-based Occidental Petroleum Corp.’s (Oxy) $57 billion counter bid to acquire Anadarko Petroleum Corp. out from under Chevron Corp., which CEO Vicki Hollub said remained a friendly, not hostile offer, is based on the value of its Lower 48 properties, particularly the Permian Basin.
Chevron Corp. announced a $33 billion merger with Anadarko Petroleum Corp. to create the No. 1 U.S. producer with a plethora of expanded natural gas and oil opportunities worldwide.
Chevron Corp. agreed Friday to buy one of the largest independents in the world, Anadarko Petroleum Corp., in a $33 billion deal that expands its armada in the U.S. onshore, deepwater Gulf of Mexico (GOM) and in the liquefied natural gas (LNG) export business.
Chevron Corp.’s takeover of Anadarko Petroleum Corp. is likely to “shake up the U.S. upstream sector” and create an operator that domestically would rival ExxonMobil Corp., analysts said Friday.