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Anadarko Petroleum in Gillette, Wyoming. In early 2010, BP billed Anadarko more than $272 million as a partial payment for its share of cleanup and response costs in the Gulf. [34] In May 2011, MOEX Offshore, a subsidiary of Mitsui and owner of a 10% non-operating ownership interest in the Macondo Prospect, settled claims with BP for $1.07 billion.
Who's next in oil mergers and acquisitions? Chevron Corp. (ticker: CVX ) shocked Wall Street in April by announcing a $33 billion buyout of oil and gas production company Anadarko Petroleum ( APC ).
The combined company will produce an estimated 3.9 million barrels of oil equivalent per day (boepd), trailing only Exxon Mobil Corp among publicly traded companies, up from fourth. It expands ...
In 2019, by purchasing warrants and preferred stock, Berkshire provided $10 billion in financing to Occidental Petroleum as part of its acquisition of Anadarko Petroleum. Berkshire began investing in common shares of Occidental beginning in 2022 and has increased its position since. [162] [163]
Occidental isn't quite as financially strong due to its massive debt-funded acquisition of Anadarko Petroleum in 2019. It also primarily financed its CrownRock deal with debt.
In August 2007, EGL merged with United Kingdom-based CEVA Logistics, owned by American private equity capital management and leveraged-buyout firm Apollo Management L.P. Crane owned about 17.6% of EGL's stock at the time of the merger. He had wanted to do a leveraged, management, or combination buyout of EGL, prior to the merger with CEVA, but ...
In April 2019, Chevron announced its intention to acquire Anadarko Petroleum in a deal valued at $33 billion, but decided to focus on other acquisitions shortly afterwards when a deal could not be reached. [61] Despite the failed acquisition of Anadarko, Chevron did acquire Noble Energy for $5 billion in July 2020. [62] [63]
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