(Adds Chevron's $53 billion acquisition of Hess)
July 18 (Reuters) -
U.S. oil and gas major Chevron ( CVX ) completed its $53
billion acquisition of Hess on Friday, after it
prevailed
in a landmark legal battle against larger rival Exxon Mobil
to gain access to the biggest oil discovery in decades.
Chevron's ( CVX ) acquisition of Hess will secure the company a
30% stake in Guyana's prolific Stabroek Block, making it one of
the biggest deals in the oil and gas industry.
Mergers and acquisitions in the shale industry have
drawn increased antitrust scrutiny, with the U.S. Federal Trade
Commission reviewing several multi-billion dollar deals,
including Chevron ( CVX ), Exxon Mobil, Diamondback Energy ( FANG )
, Occidental Petroleum ( OXY ) and Expand Energy ( EXE )
, formerly known as Chesapeake Energy.
Here are the major deals in the global oil and gas sector
since the 2000s:
2001
Chevron ( CVX ) buys Texaco in a $39.5 billion deal and emerges as
one of the largest energy firms in the world.
2002
Shareholders of Conoco and Phillips Petroleum, and the
Federal Trade Commission approve an $18 billion merger between
the companies and created the third-largest U.S. oil firm
ConocoPhillips ( COP ).
2005
Chevron ( CVX ) agrees to buy California rival Unocal for about
$16.4 billion after fighting off Italian oil group Eni,
China's CNOOC and other rumored suitors.
2006
ConocoPhillips ( COP ) acquires Burlington Resources in a $35.6
billion deal and gains access to lucrative positions in North
American gas-rich basins.
2007
Norway's Statoil buys the oil and gas assets of Norsk Hydro ( NHYKF )
for $30 billion to create a new energy firm, Equinor ( EQNR ).
2010
Exxon Mobil acquires XTO Energy for about $30 billion in
stock to bolster its position as a leading U.S. natural gas
producer.
2012
Russia's state oil company Rosneft buys TNK-BP
from UK-based BP in a $55 billion deal.
Kinder Morgan ( KMI ) finalizes a $21 billion deal to buy El
Paso Corp, combining the two largest natural gas pipeline
operators.
2014
Kinder Morgan ( KMI ) buys all of its publicly traded units (Kinder
Morgan Energy Partners LP, Kinder Morgan Inc ( KMI ) with Kinder Morgan
Management and El Paso Pipeline Partners) in a $70 billion deal.
2015
Shell, which was then known as Royal Dutch Shell
acquires British rival BG Group in a $70 billion deal.
2018
Marathon Petroleum ( MPC ) takes over rival Andeavor for $23
billion.
2019
Occidental Petroleum ( OXY ) acquires Anadarko Petroleum in
a $38 billion deal.
2020
ConocoPhillips ( COP ) buys Concho Resources for $9.7 billion in
2020's top shale deal.
Saudi Aramco completes its purchase of a 70% stake
in petrochemicals company Saudi Basic Industries for $69.1
billion.
PipeChina takes over oil and gas pipelines, and storage
facilities from PetroChina and Sinopec in a deal
valued at $55.9 billion.
2021
Norway's Aker BP ( AKRBF ) buys Sweden's Lundin Energy in a
$13.9 billion cash and stock deal to form Norway's second
largest listed oil firm.
BHP Group ( BHP ) agrees to sell its petroleum business to
Woodside Petroleum in a $28 billion merger to create an oil and
gas producer with growth assets in Australia and the Americas
now known as Woodside Energy ( WDS ).
2023
Magellan Midstream Partners' unitholders vote in favor of
its sale to larger rival ONEOK ( OKE ) for $18.8 billion,
creating one of the largest U.S. energy pipeline companies.
Exxon Mobil agrees to buy Pioneer Natural Resources
in an all-stock deal valued at $59.5 billion that would make it
the biggest producer in the largest U.S. oilfield and secure a
decade of low-cost production.
Chevron ( CVX ) agrees to buy smaller rival Hess Corp ( HES ) in a $53
billion all-stock deal, putting the company head-to-head against
rival Exxon Mobil in two of the world's fastest growing oil
basins - shale and Guyana.
Occidental Petroleum ( OXY ) agrees to buy privately held
CrownRock in a cash-and-stock deal valued at $12 billion, its
biggest since the debt-laden acquisition of Anadarko Petroleum
in 2019.
2024
Diamondback Energy ( FANG ) signs an agreement to acquire
privately held rival Endeavor Energy Partners in a $26 billion
cash-and-stock deal to boost its presence in the prolific
Permian basin.
(Reporting by Seher Dareen, Sourasis Bose, Roshia Sabu, Pooja
Menon and Vallari Srivastava in Bengaluru; Editing by Shinjini
Ganguli, Jamie Freed, Arun Koyyur and Anil D'Silva)