This is your Hart Energy A&D Minute with Jordan Soto and powered by A&D Strategies and Opportunities Conference.
Did you know that Warren Buffett has the green light to buy half of Occidental Petroleum? No really, his company Berkshire Hathaway just got the go-ahead from FERC to purchase up to 50% of Oxy after buying about 20% of the Houston-based company so far this year.
Phillips 66 is also pumping out cash; the company offered a cash buyout to DCP Midstream. Enbridge called it a “joint venture merger” which will impact indirect ownership interests in DCP Midstream and the Gray Oak Pipeline. Chances are Phillips 66 will be paying a lot more than offered since DCP’s share price is already 8% higher on news of the offer.
Is there a little bit of the Marcellus in Oklahoma? Diversified Energy seems to think so after spending $240 million to buy ConocoPhillips’ Midcontinent assets and re-create its Appalachian successes in the Sooner State. The deal really got our attention, so we got Co-founder and CEO Rusty Hutson on the line for a Hart Energy Exclusive interview. Hutson told Oil and Gas Investor Senior Editor Darren Barbee that “The mom-and-pop era of oil and gas is pretty much over.” Why’d he say that? Read the article to find out.
This Hart Energy A&D Minute is powered by A&D Strategies and Opportunities Conference on Oct. 26 in Dallas. Watch new A&D Minute episodes every Wednesday, and don’t forget to sign up for our A&D Watch newsletter at HartEnergy.com/newsletters/ad-watch.
2022-12-02 - As of 2020, 11 major Asia Pacific (APAC) countries were responsible for 52% of global CO2 emissions, and they’re expected to continue increasing through 2030, according to Goldman Sachs.
2022-12-02 - Petrobras' biggest budget share for 2023-2027 will go toward pre-salt efforts, which are expected to deliver 78% of the company’s production by the end of 2027.
2022-12-02 - Berry Corp. announces change in management for the new year and stresses shareholder return expansion.
2022-12-02 - Northern closes another of its second-half deals during a stretch when it ran up acquisitions valued at roughly $900 million.
2022-12-02 - Chevron was authorized on Nov. 26 to expand its Venezuelan operations and resume shipping heavy crude to the U.S.