CVX: LAX ✈︎ HOU

Chevron shuns California, moving HQ to Houston; Ecopetrol exits $3.6 billion Permian oil deal with Occidental; Shell-BP fantasy M&A has some grounding in reality; Shale keeps getting leaner and meaner.

Author

Rob Quigley
August 05, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Chevron relocates headquarters to Houston.

Chevron to Relocate Headquarters to Houston

Chevron Corporation has announced its decision to move its global headquarters from San Ramon, California, to Houston, Texas. The relocation is part of the company's strategy to better align its operations with the energy sector's growth in the region. The move is expected to bring significant economic benefits to Houston and reflects the city's increasing prominence in the energy industry.

www.bizjournals.com/houston/news/2024/08/02/chevron-will-relocate-its-headquarters-to-houston.html?ana=RSS&s=article_search

Ecopetrol exits $3.6 billion Permian oil deal with Occidental.(WorldOil)

Shell-BP fantasy M&A has some grounding in reality.(Reuters)

Shale keeps getting leaner and meaner.(OilPrice)

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • Chevron relocates headquarters to Houston.(BizJournals)

  • Shell-BP fantasy M&A has some grounding in reality.(Reuters)

  • Shale keeps getting leaner and meaner.(OilPrice)

  • Williams to resume Louisiana natgas pipeline project, ending feud with Energy Transfer.(BOEReport)

  • Venezuela dangles oil and gas resources at BRICS.(MalaysiaSun)

  • Occidental and Ecopetrol to drill world's deepest offshore well.(OilPrice)

  • Shell refocuses on oil and gas after strong Q2.(WorldOil)

  • BP and Iraq to develop Kirkuk oilfields.(OilPrice)

Deal Flow

M&A/Investment

  • Ecopetrol opts out of $3.6 billion Permian oil deal with Occidental.(WorldOil)

  • EOG buys South Texas gathering system, divests Delaware and Eagle Ford.(HartEnergy)

  • Rubellite Energy adds Mannville Stack heavy oil assets to Clearwater portfolio.(BOEReport)

  • ArcLight Capital Partners acquires wind farm in Midland Basin.(PBOilandGasMagazine)

IPO/Direct Listing/Issuances/Block Trades

  • Enterprise prices senior notes offering at $2.5 billion.(HartEnergy)

Debt

  • No deals match this criteria.

SPAC

  • No deals match this criteria.

Bankruptcy/Restructuring/Distressed

  • ExxonMobil and QatarEnergy delay $10 billion Golden Pass LNG following Zachry bankruptcy.(WorldOil)

Fundraising

  • No deals match this criteria.

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