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2024-07-09 10:07:51 Sinopec News

Congerian oil recently announced,has signed a US $ 22.5 billion merger and acquisition agreement with the US Marathon Petroleum Company。According to this protocol,Marathon Petroleum Co., Ltd. shareholders hold 1 ordinary shares,It will get 0.255 shares of Comede Petroleum Ordinary Stocks,The price of this price than the marathon oil company's closing price on May 28 is 14.7%。This is the US $ 7.4 billion in Cocypak Energy Company to acquire Southwest Energy Company、Yin Tuo Energy $ 5.5 billion to acquire EQUITRANS MIDSTREAM,American oil companies launched in the first half of 2024 & ldquo;。

motivation for mergers and acquisitions transactions

Executive Resource Strategy,Expand the scale of high -quality oil and gas assets upstream。Because the marathon oil company is in the Two Permian & mdash;、Bagan Shark Area and Hawkyan Shale Area and other areas have blocks adjacent to Congene oil,This merger and acquisition transaction can make Congene Petroleum in the short term to obtain potential economic benefits upstream oil and gas assets。Especially in some blocks of the Tellawa Basin and the Bagan Shale Area,Marathon Petroleum Company's average daily output is higher than the existing production well in Congene oil。

From the perspective of output,After the transaction is completed,Congerian oil will get 390,000 barrels of oil equivalent/day yield for marathon petroleum company,increased the company's total global output to 2.3 million barrels of oil equivalent/day,Basically flat with the output of BP,and may surpass Da Dar energy。At the same time,The output of Congene oil in the United States will also exceed 1.5 million barrels of oil equivalent/day,It will become the third largest oil and gas producer in the United States, which is second only to Ex SenMobil and Chevron。This time the Confeli Petroleum acquisition Marathon Petroleum Company is diversified in the United States for its subsequent upstream、Cross -basin development provides resource protection。

Executive cost strategy,Advanced experience through sharing technology and management reducing costs and efficiency。On the one hand,Congene oil will get in the Tellahua Basin after the transaction is completed、Bagan Shark Area and Eagle Beach shale areas and other areas are adjacent to existing assets to a larger block area,Operation management can use shared infrastructure、Increase centralized purchasing strength、Reduce management costs and other methods to obtain scale effects,Then improve capital efficiency。Energy Consulting Company Wood McKenz Estimated,After the transaction is completed,Only in terms of general expenses and administrative expenses,Congerian oil will save 2024 European Cup Official Website Betting Predictionsmore than $ 250 million per year,and through centralized purchase of oil and gas pipes、Diaben、Fracture service and sandstone,It will also save a lot of costs every year。

On the other hand,After the transaction is completed,Congene Petroleum can improve capital efficiency through the advantages of marathon petroleum companies。For example, Kangfei Petroleum can make mature applications & ldquo; super fracturing+ultra -long horizontal well drilling & rdquo; technology,and other advanced experience in drilling wells used in the development process of marathon petroleum company assets; you can also learn from Marathon Petroleum Corporation in some block operation processes in the Tellahua Basin and the Bagan Shale Area Realize the experience of high yield of single wells,Optimize the development effect of similar assets。Congerian oil also indicates,After the transaction is completed, some non -core assets will be separated to reduce operating costs。

Executive Capital Strategy,Attract investors through the proportion of dividends through stock repurchase and expansion of dividends。Congerian oil representation,It is planned to repurchase $ 20 billion in company stocks within 3 years after the transaction is completed。This can increase the company's stock price,Increases shareholders' rights and interests without increasing the pressure of future dividends; can also show the management of management in the capital market in the capital market。

At the same time,Congei Petroleum also plans to increase the basic dividend payment rate from 16%to 21%,Leading corporate status in shareholders' dividends,It will also boost investors' confidence in the company's long -term production and operation stability。

Executive technical strategy,Implementing data -based collaborative operations to improve oil and gas development efficiency。With the continued in -depth development of the US shale oil and gas development,Some & ldquo; non -dessert & rdquo; regional underground conditions are complicated、The distribution of the reserves of the oil collection is not clear,Improve the harvest、Fine digging dive、Treatment of cost reduction and efficiency continues to increase。Various data such as big data and other data to conduct deep learning and analysis of the oil collection,Discover the new reservoir,Further increase the harvest rate of oilfields,​​It is also a new trend of the US shale oil and gas exploration and development。

Exon Mobil acquisition of Pioneer Natural Resources Company,has completed the data reserves of about 7,000 horizontal wells in the Midland Basin。Congery Petroleum and Marathon Petroleum Company in the Eagle Beach shale area has a total of about 5,000 horizontal wells、There are about 2,000 levels in the Bagan Shark District and the Sri Fox shale area、There are about 6,000 horizontal wells in the Permian Basin,It can improve development efficiency for the company through machine learning (ML) and artificial intelligence (AI) after the transaction.、Consolidate the data basis。

Execute the LNG natural gas (LNG) expansion strategy,Consolidate the leading advantage in the global LNG market。Congerian Petroleum 2024 European Cup Official Website Betting Predictionsattaches importance to LNG development,Existing LNG assets are located in Qatar、Australia、Mexico and Mexico Bay。According to the calculation of Wood McCken,After the transaction is over,Congene Petroleum will get Marathon Petroleum Company's LNG project of 3.7 million tons/year of the LNG project in equatorial Guinea,and will make the company's LNG equity output reach 20 million tons/year in 2028。

After the transaction is over,Congerian oil will also further excavate the potential growth potential of natural gas output in the Hawk Beach Shale Area,It is conducive to the location advantage,Provide Qi source or directly participate in some LNG export projects for the LNG project of Mexico Gulf。

Impact on the US oil and gas market

Further activated the US Oil and Gas Resources M & A Market。From 2023,M & A market in the US oil and gas resources remains active,There are existing Exxon Mobil acquisitions Pioneer Natural Resources Company and so on through & ldquo; horizontal mergers and acquisitions & rdquo; obtain upstream transaction activities for new oil and gas resources; there are also Yin Tuo Energy acquisition of natural gas midstream business operators Equitrans Midstream. Vertical mergers and acquisitions & rdquo; Get Natural Gas Transfer Pipe Network、gas storage libraries and processing plants such as medium -tier assets,Expansion of the market share of the natural gas market & ldquo; upper and middle reaches & rdquo; trading activity。

This time the Confeli Petroleum Acquisition Marathon Petroleum will objectively trigger the demonstration effect in the global oil and gas resource mergers and acquisitions market,That is at the current oil price level,Get high -quality target assets through mergers and acquisitions transactions,It is still the most direct company to realize the company's strategy、The fastest way to channel,and different types of petroleum companies' development strategies can be implemented by implementing differentiated mergers and acquisitions strategies。

further aggravated the & ldquo of the US medium -sized oil company & ldquo;。In recent years,The expectation of the energy industry for low -carbon transformation and development is gradually enhanced,The relatively conservative American petroleum company in the field of energy transformation is trying to deal with it through mergers and acquisitions。Where,ExxonMobil and Chevron and other companies have purchased low -emission oil and gas assets in other parts of the world and purchased carbon capture、Use assets such as CCUS (CCUS) to respond to energy transformation,Large exploration and development companies such as Congene Petroleum also further expand the upstream scale effect through mergers and acquisitions,Consolidate the capital basis for future transformation and development。

Pioneer Natural Resources Company、Southwest Petroleum Company and Marathon Petroleum Company and other American medium -sized independent oil companies,Due to the average scale and main assets concentrated in the field of oil and gas exploration and development in the United States,It is difficult to increase transformation investment in the short term,In the middle and long term, it cannot guarantee the 2024 European Cup Football Result Bettingstable income of shareholders,Falling into & ldquo; dilemma & rdquo; situation。These companies are constantly acquired or merged,Objectively, it will also increase the & ldquo; strategic anxiety & rdquo;。

Further increasing uncertainty of the growth of oil and gas production in the United States。On the one hand,From the trading situation in the past 5 years,Although the scale effect generated by upstream asset mergers and acquisitions activities is an effective way to improve the quality and efficiency of development for a single oil company,Dan & ldquo; centralized & rdquo; & ldquo; scale & rdquo; often bring a certain degree of negative impact on the output after mergers and acquisitions,Because the internal asset integration of enterprises after mergers and acquisitions may reduce the overall scale of subsequent production capacity。

On the other hand,After the acquisition, the experience sharing of oil companies in technology and management can improve the efficiency of enterprise development,It is conducive to promoting future output growth。For example, after the assets of the Ekissen Mobil acquisition of Pioneer Natural Resources Company,Digitalization and automation levels in the development of shale oil and gas field through scale,It is estimated that the output in 2027 will increase from the total output of the previous two companies in the region to increase by 15,000 barrels/day。

Reading: The wind of this round of acquisition also blows the shell

● Zhang Xu

Since last year,A wave of acquisitions has emerged among the international oil giants。Following Exon Mobil、Chevro Dragon,Shell also started to buy oil and gas companies。Recent,Shell announcement,Subsidine Shell Dongfang Trading Co., Ltd. will acquire Singapore LNG (LNG) Company Lan Ting Energy。Shell also pointed out,This acquisition aims to strengthen the company's leadership in the LNG field。

Enhanced business strength

About this transaction,None of the two parties disclosed the financial details,Dato will get 100%shares of Lanting Energy。

Lanting Energy was established in 2013,It is a company owned by Singapore State -owned Investment Corporation Temasek,Mainly engaged in LNG trade and transportation in Asia and Europe,Supply about 6.5 million tons of LNG each year,Supply from Chevron Dragon、BP and Qatar Energy Company。

Temasek of Laodong family,Lanting Energy starts from Singapore,Development into an international energy company for ten years,Mainly engaged in LNG marketing and trade work in Europe and Asia。

The transaction is expected to be completed in the first quarter of 2025,Need to be approved by the regulatory authorities。Before the transaction is completed,Lanting Energy will continue to be an independent corporate operation。

Shell represents,This acquisition will bring Lanting Energy's natural gas contracting and supply contract,Among them, additional channels entering the Asian and European natural gas markets。At the same time,The acquisition will bring the first Singapore LNG import license to the shell,Can be provided with natural gas needs of 1/4 of the country,and provide more natural gas sources for the shell。

Shell represents,This acquisition is beneficial to the development of global business,It will 2024 European Cup Official Website Betting Predictionsalso be an important step in its layout of the global LNG market。

Optimistic potential track

Although natural gas is fossil fuel,But the greenhouse gas generated during the combustion process is obviously less than oil and coal,Therefore, it is regarded as a transition fuel for clean energy transformation。LNG has now become one of the energy growth of global demand,can replace coal,When the rapid growth of renewable energy power generation,Guarantee power supply。

Shell thinks,LNG will play a key role in the process of energy transformation,So optimistic about the prospect of LNG。But in the final analysis,Shell Falling LNG,Still because LNG brings a richer profit。Shell Natural Gas Business 2023 shows strong profitability,is the main force of its net profit。Financial report show,2023 Shell Comprehensive natural gas business net profit and operating cash flow reached 4.919 billion US dollars and $ 6.286 billion,The highest profit after adjustment of all its businesses。and,The profitability of the shell natural gas business has continued until the first quarter of this year。

Shell estimation,to 2040,Global LNG demand will increase by more than 50%。So,Shell is actively expanding the scale of LNG business。Compared with 2022,Shell plan will increase the LNG business by 20%~ 30% by 2030,Procurement increases by 15%~ 25%。This acquisition of Lanting Energy is an important part of the company's gradual expansion of LNG business scale。

Previous,Shell also participated in the negotiation of the purchase case of the new LNG factory stock acquisition of Abu Dhabi National Petroleum Company。Shell is confirming that LNG is a potential track with actual action。

Giant competes to enter the game

Not only shells who are optimistic about the LNG market,In the past two years,More oil giants are seizing LNG market share。It is reported,Before the acquisition of Lanting Energy,Saudi Amy is also one of them。

Saudi Abami not only looks at Lanting Energy,And in the world to enhance the strength of LNG。September 2023,Saudi Arab,expected to invest in overseas LNG project。To strengthen overseas expansion strategies,Saudi Amei also launched negotiations with two LNG producers Tellurian and nextDecade with two LNG producers in the United States。

Saudi Arabia signed an unrelated agreement with NextDecade,Obtaining a 20 -year LNG contracting agreement from its Rio Grand factory。Another,Abu Dhabi National Oil also purchased NextDecade's Rio Grande LNG project in Texas 11.7%equity。

While rapidly growing the global LNG market,Competition between international energy companies is also intensified。

Comments: Focus on Oil and Gas Overseas List, Dynamic Adjustment of Overseas Assets

● Lu Donghou

Looking at it overall,Oil and gas resource mergers and acquisitions markets return to active,It is difficult to promote the future growth of oil and gas output in the United States,It will not make it a cliff -like decline。But the Confeli Petroleum acquisition Marathon Petroleum Company also enlightenment for my country's oil companies。

First,Should focus on the main business of the main responsibility of oil exploration and development。From then on the Confeli Petroleum M & A M & A Map Petroleum Company、2024 European Cup Football Result BettingIn the early stage of the strategic goals of Elxon Mobil and Chevron to initiate mergers and acquisitions transactions,International Petroleum Company is still paying attention to oil and gas exploration and development business at this stage。So,my country's oil and oil companies should improve the development quality and benefits of the main oil and gas business,Through technological innovation and refined management,Further promote oil and gas exploration and development cost reduction and efficiency,Lay the foundation for capital to accelerate the development strategy including energy transformation。

Next,Should strengthen overseas mergers and acquisitions related research work。my country's oil companies must do a good job,System analysis factors affecting oil price fluctuations,Study on the follow -up research on mergers and gas assets in the world,Dynamic screening M & A target,To achieve resource gain and project economy。

again,It should make full use of the global oil and gas resources mergers and acquisitions market dynamically adjust overseas assets。Chinese oil companies must fully learn from the experience of international oil companies,Implementation & ldquo; dynamic adjustment & rdquo; M & A trading strategy,In addition to strengthening the management of core oil and gas assets,It is also necessary to screen out non -core oil and gas assets that do not meet the company's medium -term development strategy,and use the global oil and gas resource mergers and acquisitions market for peeling。At the same time,To make full use of the operating mode of the capital market,Explore direct transactions to get profit difference,Passing high -sales & rdquo through & ldquo;。

Last,Should learn international oil companies to decide the future development strategies in the future。At the strategic level,Chinese oil companies must further think about future transformation direction,On the premise of ensuring the safety of national oil and gas supply,Give full play to its own technical and industrial advantages,Explore energy transformation with existing business。If you make full use of the leading advantage in geological theory and new materials,Explore the transformation and development of energy companies or new material companies。At the technical level,my country's oil companies must rely on existing technology,The core technology of improving future transformation and development,Big data must also be used、New technologies such as artificial intelligence,combined with traditional oil and gas business,Create a high -quality digital intellectual oil field,A solid foundation for transformation and development。

Editor in charge: Zhang Lei

Tags: Congei Petroleum