Entering text into the input field will update the search result below

Bloomberg: "Shale is going on sale"

Mar. 11, 2015 11:49 AM ETChord Energy Corporation (CHRD) StockCHRD, APA, APC, XOM, HES, DVN, CVX, CLRBy: Carl Surran, SA News Editor18 Comments
  • Whiting Petroleum's (NYSE:WLL) decision to put itself up for sale looks to be just the beginning of a potential wave of consolidation as $50/bbl prices undercut companies with heavy debt and high costs.
  • The value of ~75 shale-focused U.S. producers based on their reserves fell by a median of 25% Y/Y by the end of 2014, according to Bloomberg, opening up new opportunities for bigger companies with a better handle on their debt.
  • Smaller producers with significant debt that depend on higher prices to make money are the most likely early targets for buyers such as Exxon Mobil (NYSE:XOM) or Chevron (NYSE:CVX), companies that have bided their time for years; XOM CEO Rex Tillerson suggested last week that his company is keeping its eyes open for opportunities.
  • A recent analysis by Wolfe Research found the likeliest takeover candidates among major U.S. and Canadian producers included Continental Resources (NYSE:CLR), Apache (NYSE:APA), Devon Energy (NYSE:DVN) and Anadarko Petroleum (NYSE:APC).
  • WLL would be an attractive target for XOM, CVX or Hess (NYSE:HES), all of which have operations in North Dakota and would benefit from scaling up, according to a Bank of America note.

Recommended For You

About CHRD Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
CHRD--
Chord Energy Corporation