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The ExxonMobil Papers

The ExxonMobil Papers

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Oilfield Firms See Highest Profit In Nearly A Decade

Oilfield Firms See Highest Profit In Nearly A Decade

The world’s largest oilfield services…

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A Fascinating Week For M&A Activity

With oil prices having enjoyed amazing weekly gains on the back of the OPEC production cut deal, tight markets and a string of sanctions - something’s got to give, and on Friday morning it started, with prices shedding 2%. Following the end of sanctions waivers for Iranian crude, the market is expected to further tighten, and OPEC countries could raise output if demand necessitates. What the Saudis seem to be hoping for is a narrow spread between WTI and Brent crude, so watch for production adjustments to ensure that WTI stays in the range between $70-$80.

Prices aside, this week has seen the relatively unchanged continuation of the conflict in Libya, bringing us no closer to the endgame, as well as a political-crisis regarding the leadership of Algeria’s sate-run Sonatrach, and - perhaps most interestingly - all-out corporate warfare in the juiciest part of the American shale patch ...

Fascinating M&A Activity from Permian to North Sea

There are vast amounts of ego floating around the oil patch right now. Last week’s excitement over Chevron’s $33-billion bid for Anadarko’s Permian Basin assets was followed by some unusual activity in oil markets this week in the form of an unexpected bidding war. Bidding wars aren’t par for the course in the oil industry, so when Occidental broke the unspoken rules by making a public $38-billion offer for Anadarko in an attempt to derail Chevron’s deal, it was not well-received…


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