The Chevron/Anadarko transaction implies industry bullishness about the direction of the crude market
Thursday 18 Apr 2019 Author: Tom Sieber
On 12 April US oil company Chevron made a $33bn swoop for Anadarko. As well as heralding a possible wave of mergers and acquisitions in the energy sector, the prospective deal also provides some insight into how the industry (or at least Chevron’s board) are currently viewing the oil price. Chevron is paying a 39% premium for Anadarko based on its closing price before the transaction was announced. This...