Occidental-Anadarko Petroleum Merger’s Impact On Permian Players

The massive acquisition of Anadarko Petroleum Corp. by Occidental Petroleum Corp. for $38 billion will have only a slight impact on the remaining Permian Basin players who are seeking deals, according to Drillinginfo analysts.

“Wall Street is still very bearish overall on the exploration and production sector,” said Andrew Dittmar, a mergers and acquisition analyst with the Austin, Texas-based energy analytics company. “They are not particularly supportive of acquisitions.”

Dittmar and Tyler Krolczyk, another mergers and acquisition analyst for Drillinginfo, discussed the Permian Basin and how the remaining players could be impacted after Occidental’s purchase of Anadarko during a recent webinar.