MENA Banking & Finance Society’s Post

The Oil Battle Between Exxon and Chevron Is Ridiculous When earnings season rolls around, which it now has with 1Q in the bag for most oil and gas companies, Wall Street analysts are nothing short of giddy to share their comparisons and contrasts among rivals following earnings reports. That’s what shareholders expect. But in the echelon of largest U.S. energy players, this exclusively translates to ExxonMobil and Chevron—also ranked as fifth and seventh largest, respectively, in the world. Reese Energy Consulting today is following the latest from these two, both of which accounted for the bulk of last year’s multi-billion-dollar merger mania. Helming these ginormous companies, Exxon CEO Darren Woods and Chevron head Mike Wirth are far from strangers. Back in 2021, the two discussed a possible coupling that would have created the largest merger ever. And why not? They work together on large projects across the world. But it wasn’t to be. So, each went about their way with Exxon last October picking up Pioneer Natural Resources Company for $59.5 billion to become the Permian’s largest operator, followed days later by Chevron snapping up Hess Corporation for $53 billion. The latter deal rang loud cow bells for Exxon—the first and largest oil producer in the Magical Land of Guyana where oil flows like honey. Chevy’s Hess acquisition meant the two would meet again on shared territory—the nation’s two largest rivals at work in the world’s hottest play. We’ll tickle ourselves to assume Woods and Wirth shared double-secret phone calls upon Chevron’s deal, but nevertheless a huge, right-of-first-refusal conflict quickly emerged and now set for arbitration. Returning to Wall Street commentary, Exxon reigns with 1Q earnings of $8.2 billion. Chevron reports $5.5 billion. Together, they returned $12.8 billion to shareholders during the quarter. No one is sobbing. Work it out, guys. What do you think? Learn more about REC and our crude oil and natural gas consulting services at https://lnkd.in/ebXT2mS. #energy #oilandgas #guyana #reeseenergyconsulting

🔥🛢️ The Oil Battle Between Exxon and Chevron: A Competitive Showdown The oil battle between Exxon and Chevron has caught the attention of Wall Street analysts and shareholders as they eagerly compare and contrast the performance of these two energy giants during earnings season. ExxonMobil and Chevron, ranked as the fifth and seventh largest energy companies globally, are at the center of this competitive landscape. ExxonMobil, led by CEO Darren Woods, and Chevron, under the leadership of Mike Wirth, have been major players in the oil and gas industry. In the past, there were discussions of a potential merger between the two companies, which did not come to fruition. Instead, both companies pursued significant acquisitions, with Exxon acquiring Pioneer Natural Resources Company and Chevron acquiring Hess Corporation. The rivalry between Exxon and Chevron has intensified, especially in Guyana, a region known for its abundant oil reserves. The acquisition of Hess Corporation by Chevron has led to a conflict with Exxon in this lucrative market, resulting in arbitration proceedings. In terms of financial performance, Exxon reported earnings of $8.2 billion in the first quarter, while Chevron reported $5.5 billion. Despite the intense competition, both companies have returned a substantial amount to their shareholders during the quarter. The battle between Exxon and Chevron reflects the competitive nature of the oil and gas industry, with both companies vying for dominance in key markets. As they navigate this competitive landscape, it will be interesting to see how these energy giants continue to shape the industry moving forward. #EnergyIndustry #OilAndGas #GuyanaOil #ReeseEnergyConsulting #Exxon #Chevron #OilMarket #Competition 🌟🔍

There's a BUZZ in the air of Oil and Gas!!🐝🛢️ Recent Mergers and Acquisitions with industry giants such as; Chesapeake Energy / Southwestern Energy, Diamondback Energy / Endeavor Energy Resources, LP, and Chevron and Hess Corporation (still in negotiations), are stirring up the industry waters. 🌊 What ripple effects will these moves have on our economy and job security down the line? Are we witnessing a strategic shift towards doubling down on traditional resources? 🎲🎰 It's Monday, let those thoughts and insights fly🤔 What say you?! Good Morning and Happy Monday. Let's GOOOO!!☕️☕️☕️ #oilandgasjobs #womeninenergy #wearehiring #dropdateseason #economicimpact

Dive headfirst into the future of energy. 2024 is already making waves in the oil and gas sector. We're talking record-breaking mergers and acquisitions. Here's the lowdown: → **ExxonMobil** has bagged Pioneer Natural Resources for a cool $65 billion. → **Chevron** is beefing up its resources with a $53 billion acquisition of Hess Corporation. → **APA Corporation** is expanding in the Permian Basin with a $4.5 billion acquisition of Callon Petroleum. And that's just the tip of the iceberg. Other major moves include: → Chesapeake Energy and Southwestern Energy → Talos Energy and QuarterNorth Energy → California Resources and Aera Energy → Diamondback Energy and Endeavor Energy Resources → Chord Energy and Enerplus Corporation What's next on the horizon? Expect a surge in M&A activities as economic conditions shift. Could easing interest rates light the fuse for even more deals? These mergers aren't just about big numbers. They're about using resources more efficiently. They're about strategic operations in key locations like the Permian Basin. But what about sustainability? How do these mega-mergers align with our goals for a greener future? Can these strategic consolidations lead to more responsible energy production and consumption? The future of energy is here. And it's more exciting than ever. #OilAndGas #OilMarket #MergerAndAcquisitions

Chevron’s acquisition of Hess isn’t just a financial transaction—it’s a strategic move that redefines the landscape for both assets and a positive impact on carbon emissions while further redefining the talent landscape in the energy sector. This merger combines world-class assets in places like Guyana’s Stabroek block and the Bakken shale, further enhancing Chevron’s portfolio to lead in traditional energy in addition to their emerging energy focus well into the 2030s. For recruitment in the energy industry, this means exciting shifts and opportunities: Diverse Talent Demand: Expanding operations in key oil and gas regions while emphasizing the strategic value of lower carbon initiatives and the development of new, lower carbon businesses, signaling a need for specialized talent across exploration, production, and sustainable practices. Innovative Projects: As Chevron and other companies continue to diversify into low-carbon and high-efficiency projects, skills in carbon management and sustainable technology will be in high demand. Long-Term Growth: The combined companies expect to generate consistent cash flow growth and extend production—great news for job stability and career progression in this sector. For candidates, this is the time to sharpen skills in both traditional energy and sustainability. For hiring teams, it’s an opportunity to bring on talent that aligns with long-term growth and innovation. At TLR Search we’re excited to support this evolving energy landscape as it requires specialized talent in engineering and highly technical backgrounds. #EnergySector #Chevron #HessAcquisition #TalentStrategy #EnergyRecruitment #Sustainability #LowCarbonEnergy #TalentAcquisition

2024: A Transformative Year for the Oil and Gas Industry The oil and gas sector is witnessing a remarkable surge in M&A. The industry landscape is being reshaped with strategic consolidations. Here’s a snapshot of the major moves, illustrated with key figures: - ExxonMobil has solidified its position by acquiring Pioneer Natural Resources for $65 billion, bringing its total production to approximately 1.3 mi / bpd. - Chevron follows suit, integrating Hess Corporation for $53 billion, increasing its production to about 1,2 mi / bpd. - ConocoPhillips enhances its assets with the acquisition of Marathon Oil Corporation for $22.5 billion, reaching a production level of roughly 1,18 mi / bpd. These key mergers highlight the industry’s focus on scaling operations, optimizing resource use, and strategic positioning. Together, they make up about 31% of all the oil produced in the U.S. each day! That's a lot, right? Imagine this: the oil they produce every day is almost as much as entire countries like Kuwait and the UAE produce! Why does this matter? Well, these big deals between companies help them grow bigger, work better, and use resources smarter. Do you think this will make them do even more deals like this in the future? #OilAndGas #OilMarket #UpStreamBusiness

Oil Industry Consolidation in the Legislative Spotlight. U.S. oil and gas companies spent a combined $250 billion in mergers and acquisitions last year. More than half of that came from just two megadeals: Exxon's acquisition of Pioneer Natural Resources and Chevron's takeover of Hess Corp. The buying spree, according to analysts, was mostly motivated by a drive to secure future production at a relatively low cost while there's cash in the bank after the record-breaking 2022. Analysts have commended the attitude to energy supply security. Congress Democrats, however, have not. It was only a… http://ow.ly/Fta3105louX

1 + 1 = 3 ExxonMobil this month completed the $60 billion acquisition of Pioneer Natural Resources after the #FTC declined to challenge the transaction, making the company the biggest oil and gas producer in the Permian Basin. Exxon CFO Kathryn Mikells talked me through the outlook for deals and how to achieve $2 billion in synergies per year. Here are some highlights from our chat.—Nina Trentmann Q. Exxon held more than $33 billion in cash and equivalents at the end of March. How important is M&A when thinking about capital allocation? A. First and foremost, we need to be continuing to invest in what's a very good business that earns high returns. When we think about M&A, we need one and one to equal three. We need M&A to be both a good strategic fit for the company but, more importantly, we have got to see significant synergies in M&A in order to more than justify whatever price we’re going to have to pay.

𝑭𝑻𝑪 𝑳𝒊𝒌𝒆𝒍𝒚 𝒕𝒐 𝑨𝒑𝒑𝒓𝒐𝒗𝒆 𝑪𝒉𝒆𝒗𝒓𝒐𝒏'𝒔 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏 𝒐𝒇 𝑯𝒆𝒔𝒔 The Federal Trade Commission (FTC) is expected to approve Chevron's $53 billion purchase of Hess Corporation this week, marking a significant move in the U.S. oil industry's consolidation trend. This acquisition, one of the largest in recent times, aligns with Chevron's strategic expansion despite remaining challenges, including a legal contest from ExxonMobil regarding Hess's assets in Guyana. Exxon and CNOOC International, partners in Hess’s Guyana venture, argue they have the first right to buy Hess's shares in this lucrative oil field. An arbitration decision on this matter is anticipated by mid-2025. Meanwhile, the deal has stirred the stock market, with Hess shares rising by 3% after the announcement, while Chevron’s shares have slightly declined this year. This merger is part of a broader wave of multi-billion dollar deals reshaping the U.S. oil and gas sector, illustrating the industry's dynamic shifts and the strategic realignments of significant players. #EnergySector #MergersAndAcquisitions #OilAndGasIndustry #ChevronHessDeal https://lnkd.in/gHngg36N

🌟📈 The Era of the Megamerger: Transforming the Oil and Gas Industry 🔥💼 In recent months, the oil and gas sector has witnessed a significant shift with major mergers reshaping the industry. Companies like Chevron, Exxon, and Occidental are leading the charge, acquiring smaller firms to establish a stronger foothold in the U.S. fossil fuels market. These megamergers are creating a powerful new landscape in the industry, with $250 billion worth of deals in 2023 alone. Discover how Chevron's $53 billion acquisition of Hess, ExxonMobil's $59.5 billion buyout of Pioneer Natural Resources, Occidental's $12 billion deal to purchase CrownRock, and ConocoPhillips' $22.5 billion acquisition of Marathon Oil Corp are shaping the future of energy. Learn what these strategic moves mean for market dynamics and the global energy landscape. Stay ahead of industry trends and gain insights into the evolving energy sector. Click the link to read more! Link: https://buff.ly/4cgkeP9 #OilAndGas #Megamergers #EnergyIndustry #Chevron #ExxonMobil #Occidental #ConocoPhillips #FossilFuels #EnergyFuture #IndustryTrends #BusinessGrowth #EconomiesOfScale #LinkedInProfessionals #SHALEMagazine #ENMedia #TheEnergyMixxRadioShow