Biggest Oil and Gas Sector Deals Since 2000
U.S. energy major Exxon Mobil (XOM.N) is in advanced talks to buy shale producer Pioneer Natural Resources (PXD.N) in a $60 billion deal, sources familiar with the matter said.
It would be Exxon’s biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the company’s position in the country’s most lucrative oil patch.
Here are the major deals in the global oil and gas sector since the 2000’s:
Chevron buys Texaco in a $39.5 billion deal and emerges as one of the largest energy firms in the world.
Shareholders of Conoco and Phillips Petroleum, and the Federal Trade Commission approve an $18 billion merger between the companies and created the third-largest U.S. oil firm ConocoPhillips.
ConocoPhillips acquires Burlington Resources in a $35.6 billion deal and gains access to lucrative positions in North American gas-rich basins.
Norway’s Statoil buys the oil and gas assets of Norsk Hydro for $30 billion to create a new energy firm, Equinor (EQNR.OL).
Exxon Mobil (XOM.N) acquires XTO Energy for about $30 billion in stock to bolster its position as a leading U.S. natural gas producer.
Russia’s state oil company Rosneft (ROSN.MM) buys TNK-BP from UK-based BP (BP.L) in a $55 billion deal.
Kinder Morgan finalizes a $21 billion deal to buy El Paso Corp, combining the two largest natural gas pipeline operators.
Kinder Morgan (KMI.N) buys all of its publicly traded units (Kinder Morgan Energy Partners LP, Kinder Morgan Inc with Kinder Morgan Management and El Paso Pipeline Partners) under one roof in a $70 billion deal.
Shell (then Royal Dutch Shell) acquires British rival BG Group in a $70 billion deal.
Marathon Petroleum (MPC.N) takes over rival Andeavor for $23 billion.
Occidental Petroleum (OXY.N) acquires Anadarko Petroleum in a $38 billion deal.
ConocoPhillips (COP.N) buys Concho Resources for $9.7 billion in 2020’s top shale deal.
Saudi Aramco (2222.SE) completes its purchase of a 70% stake in petrochemicals company Saudi Basic Industries for $69.1 billion.
PipeChina takes over oil and gas pipelines, and storage facilities from PetroChina and Sinopec in a deal valued at $55.9 billion.
Norway’s Aker BP (AKRBP.OL) buys Sweden’s Lundin Energy in a $13.9 billion cash and stock deal, to form Norway’s second largest listed oil firm.
BHP Group (BHP.AX) agrees to sell its petroleum business to Woodside Petroleum in a merger to create an oil and gas producer worth $28 billion with growth assets in Australia and the Americas.
Magellan Midstream Partners’ unitholders vote in favor of its sale to larger rival ONEOK (OKE.N) for $18.8 billion, creating one of the largest U.S. energy pipeline companies.
Reuters, Seher Dareen, Sourasis Bose and Roshia Sabu, October 11, 2023