The deal will expand Chevron's footprint in the largest U.S. shale field, grow its Gulf of Mexico operations and expand its LNG portfolio.
To understand why Chevron struck the biggest oil and gas deal in years to purchase Anadarko Petroleum, you should probably pull out a globe.
Oil majors have the scale and financial wherewithal to essentially turn shale fields into factories. They do that by stringing together large parcels of continuous acreage, which allows them to do highly efficient pad drilling on a massive scale. Pad drilling involves drilling multiple horizontal wells from a single location.
"Clearly, a large driver of the deal is Anadarko's prized position in the Delaware Basin where Chevron increases its position by 240,000 net acres to over 1,400,000 net acres," said Andrew Dittmar, a mergers and acquisitions analyst at Drillinginfo."The Delaware Basin currently provides the best well economics of any shale play in the country."
Wirth also thinks Chevron can put its scale game to work in Colorado, where Anadarko has 400,00 acres of continuous acreage in the core of the DJ Basin, another major shale region. Companies are increasingly using these so-called tiebacks to keep costs down. Wirth declined to name specific tieback opportunities, but noted that Chevron has recently made several discoveries that could be candidates.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Why everyone should save like they’re going to retire earlyThe American Dream isn’t all it’s cracked up to be
और पढो »
Perspective | Dwyane Wade’s last dance in Miami reminded me why I fell in love with sportsThe Heat star has occupied an outsized role in memories spanning more than half of my life. It somehow feels longer.
और पढो »
Skeptical Democrats, Republicans question Barr on why DOJ not defending ObamacareGet breaking national and world news, broadcast video coverage, and exclusive interviews. Find the top news online at ABC news.
और पढो »
The world’s tallest buildings aren’t being built in the USA anymore
और पढो »
Why Your Family’s Money Belongs In Nevada — No Matter Where You LiveNevada may be known for its casinos and high-stakes poker games, but high-net-worth families will find it no gamble to keep their money there.
और पढो »
The 'orgasm gap': Why it exists and what women can do about it.NBCNewsBETTER: In heterosexual relationships, women on average are having fewer orgasms than men — a problem that Dr. Laurie Mintz calls the 'orgasm gap.'
और पढो »