Deal Insight
Occidental to buy Anadarko
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Occidental won the race for Anadarko after Chevron opted not to counter Oxy's US$76 per share offer. Occidental had worked hard for the win, agreeing external financing and a contingent sale of Anadarko's African assets, to improve its proposition and alleviate Anadarko's initial concerns. Chevron's committment to capital discipline meant Occidental was able to clinch the deal at a price that still looks good value. The deal will be a game changer for Occidental.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- US Permian
- US Rockies
- US Gulf of Mexico
- African assets
- Deal analysis
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Upsides and risks
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Upsides
- Permian upside
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Risks
- Permian execution
- Niobrara regulatory risks
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Upsides
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Strategic rationale
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Occidental
- Anadarko
- Chevron
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Occidental
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Wood Mackenzie NPV10 by region, 2019 versus 2024Anadarko production by region
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Deal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Deal analysis: Table 4Deal analysis: Table 5Deal analysis: Table 6Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Anadarko new project returns (including Africa)
- 4 more item(s)...
What's included
This report contains:
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