BHP Billiton Ltd.’s former oil and gas head J. Michael Yeager expects more industry mergers and acquisitions in the U.S. as onshore developers seek to sell assets they can’t develop and boost their technical skills.
Pioneer Natural Resources Co., the energy explorer with more than 7,000 wells in the largest U.S. oil field, may draw buyers from Chevron Corp. to ConocoPhillips to one of the industry’s biggest takeover targets.
Bryan Sheffield, a third-generation oil wildcatter in Texas’s Permian Basin, knows what he’ll do if crude drops to $80 a barrel: shut down half his drilling rigs and go on a takeover hunt for weaker rivals.
Occidental Petroleum Corp., transformed by longtime leader Ray Irani into a global oil powerhouse from a hodgepodge of businesses that included movies and meatpacking, is set to undergo another makeover after the chairman’s ouster by shareholders.
Occidental Petroleum Corp. will lose its two-decade leader Ray Irani next year, freeing the $66 billion energy company to sell its operations outside the U.S. and boost one of the industry’s worst valuations.
Anadarko Petroleum Corp., the second-largest U.S. independent oil and natural-gas producer by market value, boosted its 2012 sales volume forecast and posted adjusted quarterly profit that exceeded analysts’ estimates.