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 https://bit.ly/rtrsauto))

(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:

2001

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

2002

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 .

2005

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.

2006

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

2007

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

EQNR.OL.

2010

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.

2012

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.

2014

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.

2015

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

2018

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

2019

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

2020

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.

2021

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.

2023

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 .

2024

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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