On Friday, the 12th of April 2019, the Chevron Corp., an American multinational energy corporation headquartered in California, had said that they would purchase the gas and oil producer, Anadarko Petroleum Corp at a $33 billion cash-and-stock deal, as a push to double down their efforts on US shale and liquified natural gas (LNG) amid a record-breaking production of US energy companies.
Had it been taken place, the deal would make Chevron the second-largest crude oil producer in US, behind Exxon Mobil Corp. Never the less, the deal would expand Chevron’s grasp in two particular areas, where US energy outputs had been booming.
Besides, the deal would have been the largest in oil industry since BG group was bought by Royal Dutch Shell in 2016. Citing that Chevron’s latest move would uplift its rank among the major oil and gas producers, a senior analyst at Consultants Wood Mackenzie, Roy Martin said, “Chevron now joins the ranks of the ‘ultramajors’ – and the big three becomes the big four.
The acquisition makes the majors’ peer group much more polarized. Exxon Mobil, Chevron, Shell and BP are now in a league of their own”. Adding the deal as a “Compelling and unique fit”, Chevron Chief Executive, Mike Wirth said in an interview, “We are the best company to combine with Anadarko and Anadarko is the best company to combine with us”.