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...Diamondback Energy has announced the $26bn acquisition of Endeavor Energy Resources, one of America’s most sought-after private oil producers....
...On Monday, Diamondback Energy swooped in to buy Endeavor Energy Resources for $26bn, including debt....
...Diamondback Energy has agreed to buy Endeavor Energy Resources in a $26bn deal, beating ConocoPhillips in a race for one of America’s most sought-after private oil producers....
...Meanwhile, oil patch dealmaking is back in the spotlight here after Diamondback Energy came out on top in the race for Endeavor Energy Resources this week — snagging a $26bn deal for one of the last remaining...
...This week’s variant — Diamondback Energy’s $26bn swoop for Endeavor Energy Resources — is the latest in the quest to snap up prime assets in the US Permian Basin....
...Diamondback Energy’s $26bn deal for rival Endeavor Energy this week brought to almost $180bn the value of an oil and gas dealmaking spree that has reverberated across the US shale patch since the beginning...
...Global demand for plastics, which makes up 50 per cent of petrochemical demand, is expected to nearly double by mid-century, according to S&P Global Commodity Insights....
...Endeavor Energy Resources The next prized target is Endeavor, owned by Autry Stephens, an old-school Texas oilman and one of the wealthiest individuals in the state....
...Share moves to note on the New York Stock Exchange include Diamondback Energy, Monday.com and VF Corporation: Diamondback Energy jumped 10 per cent after it announced it would acquire Endeavor Energy Resources...
...The S&P 500 fell 0.2 per cent on Wednesday, with just over half of its stocks finishing higher....
...“If you think about the east coast, there’s just a lack of [land-based] resources there, so you need those resources to come in.”...
...Our energy team colleagues explain what’s behind the hold-up....
...Gas demand from Europe’s industrial sector was down 24 per cent last year from 2019 levels, according to S&P Global Commodity Insights....
...Emmanuel Corral, senior analyst at S&P Global Commodity Insights, says climate worries have “spurred investments in this technology from governments, research institutions and the private sector”....
...The S&P increased 7 per cent in the first half of 2003. The 2022 invasion of Ukraine did feed into energy and equity markets....
...It costs less than $3 per kilogramme for “grey” hydrogen production from fossil fuels, S&P said in a report this year....
...Take P. Todd Noe, Microsoft’s director of nuclear and energy innovation....
...“The die is cast for China to come in and trump BHP’s offer with relatively little resistance from the South African authorities,” said John Meyer, a mining analyst at S&P Angel....
...“Most of the new demand growth will be met by carbon-free generation resources,” said Xizhou Zhou, head of power and renewables at S&P....
...Thanks for reading, Amanda What to watch at CERAWeek 2024 Next week, thousands of energy executives and leaders will arrive in Houston to attend the annual CERAWeek conference hosted by S&P Global, one...
...S&P this month downgraded Thames Water’s top-ranked class A debt to BBB-, the bottom rung of investment-grade, just one notch above junk....
...The benchmark S&P 500 gained 1.1 per cent, while the tech-heavy Nasdaq Composite closed 1.2 per cent higher....
...“When we make long-term investment decisions for the energy transition, we should not base them on current spot prices, but we inevitably do,” said Michael Stoppard at S&P Global Commodity Insights....
...Producers such as CNX Resources, Range Resources and Gulfport may too have benefited from timely gas price hedging....
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