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Matching entries from Houston's Clear Thinkers
Anadarko's big deal
The Woodlands, Texas-based Anadarko Petroleum Corp. announced this morning (NY Times story here) that it has agreed to buy Kerr-McGee Corp. and Western Gas Resources Inc. in separate all-cash deals totaling $21.1 billion, plus the assumption of $2.2 billion in...
ConocoPhillips makes big play for Burlington Resources
ConocoPhillips is negotiating to purchase Burlington Resources Inc. in a huge $30 billion deal in a big bet that natural gas supplies will remain tight and higher prices the norm for the forseeable future. Burlington stock has been a hot...
CNOOC folds on Unocal bid
The China National Offshore Oil Corp Ltd. announced yesterday that it is abandoning its effort to acquire second-tier U.S. exploration and production company Unocal Corp, paving the way for Unocal shareholders to accept Chevron's competing bid. Here are the previous...
Daniel Yergin comments on energy prices
Daniel Yergin -- energy economist and author of the 1992 Pulitzer Prize winner, The Prize: The Epic Quest for Oil, Money, and Power -- writes this sensible Washington Post op-ed in which he reminds us that the current relatively high...
Chevron trumps CNOOC on Unocal bidding
Chevron Corp. has increased its acquisition offer for Unocal to about $63 a share and Unocal's board is supporting that offer over the competing bid of the China National Offshore Oil Corp. Here are the previous posts on the bidding...
The risk of rising U.S. debt
Awhile back, this post made the point that, rather than focusing on CNOOC's bid to overpay for a second tier U.S. oil & gas company such as Unocal, the real issue that needs to be addressed is that American society...
Chevron's pitch to Unocal shareholders
In this WSJ ($) op-ed, Chevron Corporation CEO David O'Reilly makes the case to Unocal Corp. shareholders for choosing Chevron's lower bid for the company over the China National Offshore Oil Corp.'s higher bid (here are the previous posts on...
More on the CNOOC bid for Unocal
This earlier post addressed the folly of developing a mercantilist governmental policy in response to the China National Offshore Oil Corp.'s hostile takeover bid for Unocal, which had previously accepted Chevron Corporation's friendly bid for the company. In this OpinionJournal...
The folly of mercantilism
Sebastian Mallaby joined the Washington Post editorial page in 1999 after 13 years with The Economist magazine, and is the author of The World's Banker: A Story of Failed States, Financial Crises, and the Wealth and Poverty of Nations (Penguin...
Big Chinese company takes on Chevron over Unocal
Cnooc Ltd., China's third-largest oil company and it's major explorer of offshore oil and gas, yesterday made an unsolicited $18.5 billion cash bid for El Segundo, CA.-based Unocal Corp. The bid is attempting to scuttle the earlier $16.5 billion bid...
Chevron ditches the "Texaco" name
ChevronTexaco Corp. announced today that it is dropping the venerable "Texaco" part of its corporate name and shortening its name to Chevron Corp., which was the name of the company before before the company merged with Texaco three and a...
More on oil prices
This Angry Bear post provides a good overview of the probable impact of current oil prices on the American economy, which segues nicely to this recent Wall Street Journal ($) interview with ExxonMobil CEO Lee Raymond, in which he observes...
ChevronTexaco wins bidding for Unocal
San Ramone, California-based ChevronTexaco Corp. won the bidding yesterday for its California-based rival Unocal Corp. yesterday in a cash-and-stock package valued at $16.8 billion. The deal is the largest oil-sector deal since 2001 when the acquirer was created under Chevron's...
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