Management consultant CEO Alan Carnrite was an active player in the flurry of mergers in the oil and gas industry 20 years past. He thinks the industry once again is ripe for a house cleaning.
Here are new strategies for IT integration as the speed and scale of the current downturn make the previous M&A playbook for E&P companies all but irrelevant.
Chevron CEO Mike Wirth provides four takeaways from the supermajor’s offer to buy Noble Energy in a deal worth $13 billion, including debt.
Shareholders of Houston-based independent E&P company Noble Energy will receive 0.1191 shares of Chevron for each Noble Energy share and are expected to own approximately 3% of the combined company.
Norwegian oil service providers Aker Solutions and Kvaerner will merge to strengthen their base in the global energy industry, including renewable energy, both companies said on July 17.
BP Energy Partners said June 29 it is merging Dallas, TX-based Blue Roads Solutions, and Conroe, TX-based Thigpen Solutions, creating an innovative, full-service, leading player in the virtual pipeline industry.
Occidental Petroleum has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices.
Before the coronavirus pandemic and the oil price war, public investors had already thrown down the gauntlet to E&Ps. Companies, arguably, were learning to adapt, and they must keep doing so to access public capital in the new environment.