RBN Energy, LLC’s Post

The U.S. oil and gas industry is rapidly consolidating as producers seek new opportunities and anticipate strong future demand. ConocoPhillips announced on Wednesday its agreement to acquire Marathon Oil Corporation in an all-stock deal valued at $17.1 billion. In parallel, a significant majority of Hess shareholders have approved Chevron's $53 billion takeover bid, despite initial opposition from major stakeholders due to conflicts with ExxonMobil over oil discoveries in Guyana. While the Chevron-Hess Corporation deal still awaits regulatory approval, a substantial challenge remains from Exxon, a key competitor. https://lnkd.in/eqeDj7jy #NARFA #Oil #gas #fuel #energy #oilandgas #finance #economy #production #consolidation #exxonmobil #hess #chevron #marathonoil #conocophillips

Interesting Acquisition. More consolidation in the oil and gas market.

Wow. News. ⚡️Acquisition of Marathon Oil Corporation is expected to be immediately accretive to earnings, cash flows and return of capital per share. ⚡️- ConocoPhillips expects to achieve at least $500 million of run rate cost and capital savings within the first full year following the closing of the transaction. ⚡️ Independent of the transaction, ConocoPhillips expects to increase its ordinary base dividend by 34% to 78 cents per share starting in the fourth quarter of 2024. ⚡️Upon closing of the transaction, ConocoPhillips expects share buybacks to be over $20 billion in the first three years, with over $7 billion in the first full year, at recent commodity prices.

ConocoPhillips Acquisition of Marathon Oil Corporation: A Breakdown The Deal: #ConocoPhillips is acquiring #MarathonOil in an all-stock deal valued at $22.5 billion, including #debt. This signifies #consolidation within the #US oil and gas industry. Gains for ConocoPhillips: Enhanced Portfolio: Marathon's assets complement ConocoPhillips' existing holdings, particularly in the US unconventional (shale) oil space. This provides a more diversified and potentially lower-cost resource base. Cost Savings: The combined entity expects to achieve at least $500 million in annual cost and capital expenditure savings within the first year. Production Increase: The acquisition boosts ConocoPhillips' production capacity, potentially strengthening its market position. Economic Impact: Job Market: The deal might lead to job redundancies in the short term due to operational streamlining. However, long-term implications are unclear. Investment: The #acquisition reflects confidence in the US oil and gas sector, potentially attracting further #investment. Oil & Gas Industry: Consolidation: This deal exemplifies a trend of consolidation within the US oil and gas industry, potentially leading to fewer players and a more concentrated market. Efficiency: Merging operations could improve efficiency and potentially lead to lower production costs. Overall View: The acquisition strengthens ConocoPhillips' position in the US oil and gas industry. While cost savings and an enhanced portfolio are anticipated benefits, potential drawbacks include job losses and a more concentrated market. The long-term economic impact on the US remains to be seen. Note: Regulatory approval is still needed. Integration challenges could arise. Future oil price fluctuations will impact profitability. https://lnkd.in/dkeggFJi https://lnkd.in/d2yHXdrc #ThisIsOurAfrica #MurakwaniAdvisory

Huge news to come back to! More and more mergers on the horizon, more and more companies needing to consider climate liability as operations, and emissions, are inherited. #manda #merger #oilnews #emissions

Here's what this could mean for the industry: Increased demand for talent: As ConocoPhillips integrates Marathon's operations, they may need to fill new roles across various disciplines. Focus on operational efficiency: Mergers often lead to a focus on streamlining operations. This could create opportunities for specialists in areas like cost optimization and process improvement. Shifting talent landscape: The combined entity might lead to adjustments in workforce needs and locations. Are you a skilled professional in the oil & gas sector? Strategic Contract Resources can help you connect with exciting opportunities at top companies like these. DM me today to discuss your career goals! #oilandgasjobs #conocophillips #marathon #staffing #energy #careers #hiring

"ConocoPhillips is buying Marathon Oil Corporation in [a] deal valued at approx $17.1B... Chevron said last year that it was buying Hess Corporation in a $53B acquisition, though that deal faces headwinds... In July of last year, ExxonMobil said that it would pay $4.9B for Denbury Resources... Three months later, Exxon announced the proposed acquisition of #shale operator Pioneer Natural Resources for $60B. All of the proposed acquisitions could face pushback from the US which under the #Biden administration has stepped up #antitrust reviews for #energy companies... The Federal Trade Commission... asked for additional information from Exxon and Pioneer about their proposed deal." #competition #compliance

🛢️ ConocoPhillips to acquire Marathon Oil Corporation 🛢️ Another merger in the Energy sector, this one worth a cool $22.5 billion and including assets across the USA from North Dakota down through Texas. Rising oil prices and profits are driving some of the largest players to expand further through takeovers, including ExxonMobil with Pioneer and Chevron with Hess 📈 💡 Will be interesting to see whether we will see the same Downstream... #oilandgas #energy #aquisition

ExxonMobil announces second-quarter 2024 results To view article please click here: https://hubs.ly/Q02Kb1Ts0 Does your company have news to share with the industry? Please contact: [email protected] and we will be happy to assist. #storageterminalsmagazine #tankstorage #oil #chemicals #gas #tankterminals #bulkliquids #tanks #storagetanks #storageterminals #liquids #storageterminalsmag #news

Just like over two decades ago, ConocoPhillips finally confirmed that it did follow the footsteps of ExxonMobil and Chevron to acquire a large independent - Marathon Oil Corporation - in an all-stock transaction valued at $17.1 billion with an enterprise value of $22.5 billion including $5.4 billion net debt. Will Europe major oil follow this trend after adjusting their ESG goals? Shell, TotalEnergies, or bp? Also curious about the responses from Devon Energy and EOG Resources in the next 12 months. When this deal closes, the market cap of ConocoPhillips will be about 50% bigger than the supermajor bp!