Hints and tips:
...Buying Pioneer would easily outstrip the supermajor’s 2009 purchase of XTO Energy for $41bn — its biggest since the Mobil deal — a bet on natural gas that it later conceded had been ill-timed....
...The potential mega-deal that could spark a shale M&A frenzy The last time ExxonMobil pulled off a megamerger — purchasing XTO Energy for $41bn in 2009 — the ill-timed bet went down as a cautionary tale...
...The potential writedowns come little more than a decade after Exxon bought US natural gas producer XTO Energy for $41bn, a deal in which Exxon is considered to have vastly overpaid....
...The writedowns could apply to its North American gas portfolio, it said, including assets it acquired in 2009 when it bought XTO Energy for $41bn — a deal in which Exxon is considered to have vastly overpaid...
...Belatedly, recognising the promise of the shale revolution happening under its nose, Exxon’s $41bn purchase of XTO including its debt in 2009 made it the US’ biggest natural gas producer....
...Among the basin’s biggest flarers on an absolute basis are ExxonMobil-owned XTO Energy, Diamondback E&P and Encana Oil and Gas, according to the regulator....
...In December 2009, ExxonMobil agreed a $41bn deal to buy XTO Energy, one of the largest operators in the newfangled US shale gas business....
...Staale Gjervik, president of XTO Energy, Exxon’s shale division, told Kevin Crowley of Bloomberg that the company was aiming for all-in costs of only about $15 a barrel as it expands rapidly in the Permian...
...Sara Ortwein, president of Exxon’s shale oil and gas subsidiary XTO, said the initiative reflected its commitment to “improving the efficiency of our operations and reducing and mitigating greenhouse gas...
...The announcement followed pressure from investors for Exxon and other energy companies to clarify how they would cope with international pressure for curbs on greenhouse gas emissions....
...But Sara Ortwein, president of XTO Energy, Exxon’s shale subsidiary, said cost reductions and the group’s ability to maximise the value of its resources by using its production in its own refineries and...
...XTO Energy, Exxon’s shale subsidiary, will replace equipment, train staff and research new technologies to curb leaks of methane, a potent greenhouse gas estimated to trap heat 28 to 36 times as effectively...
...Mr Watson has avoided strategic mistakes like ExxonMobil’s $41bn takeover of XTO Energy in 2010, widely seen as overpriced, and after spending beyond its cash flows for years, Chevron is swinging back into...
...The deal, which is worth $5.6bn in Exxon shares plus up to $1bn more in cash, is the company’s largest since the $41bn acquisition of XTO Energy, agreed in 2009....
...When thinking about possible deals, observers say, Mr Tillerson and his team have seemed to dwell on Exxon’s $41bn acquisition of US gas producer XTO Energy, agreed in 2009....
...Exxon came into the Permian through its takeover of XTO Energy in 2010, and added on subsequent smaller acquisitions, while Chevron has a large legacy position....
...He agreed to buy XTO Energy, a leading shale gas producer, for $41bn including debt, in December 2009, shortly before US gas prices went into a years-long decline....
...Mr Tillerson’s critics point to strategic mis-steps including the 2009 acquisition of XTO Energy, a midsized US shale gas producer....
...Exxon moved more decisively to respond to that threat than any of its peers, agreeing in December 2009 to pay $41bn including debt for XTO Energy, a leading shale producer, but the fall in natural gas prices...
...Finally, Exxon’s executives will be alert to the risk of overpaying during a downturn, following the deal to buy XTO Energy, a US shale company, for $41bn including debt that they agreed at the end of 2009...
...Analysts and bankers say Exxon is also wary of overpaying for acquisitions, following criticism that it paid too much for XTO Energy, the US shale gas and oil company it bought for $41bn, including debt,...
...Exxon agreed to pay $41bn including debt for shale gas and oil producer XTO Energy in 2009, at a time when gas prices were roughly double what they are today, and Mr Tillerson will not want to make the same...
...Exxon gambled $41bn on US gas explorer XTO, just before gas prices went south. A low margin project in Iraq looks iffy....
...BP’s move is similar to the strategy adopted by ExxonMobil when it bought XTO Energy, a successful shale gas producer, in 2009 for $41bn including debt....
...ExxonMobil paid $40bn for XTO Energy at the end of 2009 to get a foothold in supposedly higher-return gas assets that are failing to deliver those returns. The US natural gas price has collapsed....
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