What company or market will CVX buy into next?
CVX oil finders particularly ex Hess G&G are not developing attractive runways and the companies doing a great job of decommissioning and divesting assets.
15 replies (most recent on top)
@13q please moderate your fandom of Hess Exploration. They were at the right time and place and coat tailed on XOM. Interestingly the original Guyana finders and promoter were sent packing or retired and their contribution downplayed. Also CNOOC needs recognition as well for technical and deep pockets. Standalone Hess G&G is unimpressive…so expect Chevron to buy more production before Trumps term is up
What's really sad is that no one any longer has any faith at all in Chevron Exploration, +/- Hess holdovers. Great job Liz running it into the ground after letting all the oil-finding Boomers walk out the door (well, more like kicked out the door) 2015-2020. Now the only option is continued acquisitions, probably spaced every 3-5 years.
@p3 Well said. Downvotes are people clinging to the old CVX narrative. Read the annual reports, check the stock price. All the buybacks reinforces it. Selling Downstream International is the start of the endgame. PE will take what FTC won’t allow. This is chess not checkers.
THIS IS the best post i have seen with right questin asked. CVX 2030+ is going to be struggling for a survival. What the C Team it's a tempting to create a solid base, a lean and mean base.That's just like a startup.So that when they do acquire, they can shed quickly and add cash flow. The consultants are perating around four companies right now. OXY, COP, Part of BP and Shell and Mararhon upstream. If you talk to the big consulting firms in d c in new york, what they're proposing is to split the industry into upstream and downstream corporations centered around a low cost base asset low cost employees from india and one other country. CVX refining combining with others. Midstream combined. CP chem expands on its own. Upstream goes into acquistion mode. Alt Energies has 2 choices- acquire/combine or spinoff.
Oxy then COP then BP.
The question is, who will buy us?
Obviously dimondback
We are all changing reality with these posts…the BOD plans are inconsequential when creative people forecast the future
Chevron is preparing to divest assets not aquire
Oxy
Great question and very relevant...CVX and Hess Exploration couldn't find oil in a tank farm, haven't for years. Guyana is XoM operated so don't claim that as everyone likes to ride that train.
Expand Energy or SM
XOM - go big or go home
CVX will be broken up and sold before it acquires another company.
COP or OXY