CALENDAR-The biggest deals in the oil and gas sector since the turn of the century – 05/02/2024 at 2:55 p.m.

CALENDAR-The biggest deals in the oil and gas sector since the turn of the century – 05/02/2024 at 2:55 p.m.
CALENDAR-The biggest deals in the oil and gas sector since the turn of the century – 05/02/2024 at 2:55 p.m.

((Automated translation by Reuters, please see disclaimer

(Adds the Occidental-Pioneer and Diamondback-Endeavor agreements, reworks paragraph 1)

Major U.S. oil and gas producer Exxon Mobil , is not part of the company’s board of directors.

The U.S. oil and gas industry embarked on a $250 billion buying spree in 2023 and the wave of consolidation continued into 2024.

Mergers and acquisitions have come under increased scrutiny, with the FTC examining multibillion-dollar deals, including those involving Chevron CVX.N , Diamondback Energy FANG.O , Occidental Petroleum OXY.N and Chesapeake Energy CHK .O.

Here are the main operations carried out in the global oil and gas sector since the 2000s:


Chevron buys Texaco for $39.5 billion, becoming one of the world’s largest energy companies.


Shareholders of Conoco and Phillips Petroleum, along with the Federal Trade Commission, approve an $18 billion merger between the two companies, creating the third-largest U.S. oil company, ConocoPhillips COP.N .


Chevron agrees to buy California rival Unocal for about $16.4 billion after battling Italian oil group Eni ENI.MI , China’s CNOOC and other supposed suitors.


ConocoPhillips acquires Burlington Resources for $35.6 billion, gaining lucrative positions in North American gas basins.


Norwegian company Statoil buys Norsk Hydro’s oil and gas assets for $30 billion to create new energy company, Equinor



Exxon Mobil is acquiring XTO Energy for approximately $30 billion in stock to strengthen its position as the leading natural gas producer in the United States.


Russian oil company Rosneft ROSN.MM is buying TNK-BP from British company BP BP.L for $55 billion.

Kinder Morgan KMI.N finalizes $21 billion deal to buy El Paso Corp, combining the two largest gas pipeline operators.


Kinder Morgan is buying all of its publicly traded units (Kinder Morgan Energy Partners LP, Kinder Morgan Inc with Kinder Morgan Management and El Paso Pipeline Partners) in a $70 billion deal.


Shell SHEL.L (then Royal Dutch Shell) acquires British rival BG Group in a $70 billion deal.


Marathon Petroleum MPC.N buys rival Andeavor for $23 billion.


Occidental Petroleum OXY.N acquires Anadarko Petroleum for $38 billion.


ConocoPhillips is buying Concho Resources for $9.7 billion in the largest shale deal of 2020.

Saudi Aramco 2222.SE is buying a 70% stake in petrochemical company Saudi Basic Industries for $69.1 billion.

PipeChina is taking over oil, gas pipelines and storage facilities from PetroChina 601857.SS and Sinopec in a deal valued at $55.9 billion.


Norway’s Aker BP AKRBP.OL is buying Sweden’s Lundin Energy in a $13.9 billion cash and stock deal to form Norway’s second publicly traded oil company.

BHP Group BHP.AX agrees to sell its oil operations to Woodside in a merger to create a $28 billion oil and gas producer with growing assets in Australia and Americas.


Magellan Midstream Partners’ unitholders are voting to sell it to archrival ONEOK OKE.N for $18.8 billion, creating one of the largest U.S. energy pipeline companies.

ExxonMobil agrees to buy Pioneer Natural Resources PXD.N in an all-stock deal valued at $59.5 billion, which would make ExxonMobil the largest producer in the largest U.S. oil field and would ensure a decade of low-cost production.

Chevron agrees to buy smaller rival Hess Corp HES.N in a $53 billion stock deal, putting the company up against rival ExxonMobil in two of the world’s fastest-growing oil basins. fastest in the world: shale and Guyana.

Occidental Petroleum OXY.N agrees to buy privately held CrownRock in a cash and stock transaction valued at $12 billion, the largest since the acquisition of debt-laden Anadarko Petroleum in 2019 .


Diamondback Energy FANG.O signs a deal to acquire privately held rival Endeavor Energy Partners in a $26 billion cash-and-stock deal to boost its presence in the prolific Permian Basin.



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