Possible M&A Target companies - July 29
Posted: Mon Jul 27, 2020 9:32 am
According to Tudor Pickering, Chevron’s purchase of Noble could open the door for similar ‘logical deals’ thanks to debt maturities getting ever-closer and companies scrambling to survive. Pickering sees a tie-up between Devon Energy (NYSE:DVN) and Cimarex Energy (NYSE:XEC) as another potential deal.
RBC's Scott Hanold sees some of Permian Basin's big independent drillers including Pioneer Natural Resources (NYSE:PXD), Diamond Energy (NASDAQ:FANG), Parsley Energy (NYSE:PE) and Callon Petroleum (NYSE:CPE) being sold.
And they are mostly expected to follow the all-stock, no-debt, modest premiums playbook that we have just seen with Chevron and Sunrun.
As Enervus M&A analyst Andrew Dittmar has told Reuters, "Sometimes you need the one significant deal to reset the comps and manage price expectations. The debt maturity wall that has been out there for some time is getting closer and closer."
Read: https://oilprice.com/Energy/Energy-Gene ... tions.html
RBC's Scott Hanold sees some of Permian Basin's big independent drillers including Pioneer Natural Resources (NYSE:PXD), Diamond Energy (NASDAQ:FANG), Parsley Energy (NYSE:PE) and Callon Petroleum (NYSE:CPE) being sold.
And they are mostly expected to follow the all-stock, no-debt, modest premiums playbook that we have just seen with Chevron and Sunrun.
As Enervus M&A analyst Andrew Dittmar has told Reuters, "Sometimes you need the one significant deal to reset the comps and manage price expectations. The debt maturity wall that has been out there for some time is getting closer and closer."
Read: https://oilprice.com/Energy/Energy-Gene ... tions.html