MILAN – While in Italy the Moratti family reaches an agreement with the Vitol group for the sale of control of Saras, an operation that the market does not seem to welcome with the stock falling after the announcement, news arrives from the United States of an important oil & gas consolidation operation.
According to American media, two Texan giants, Diamondback Energy and Endeavor Energy Resources, are in final negotiations for an agreement that would create an oil and gas giant worth over 50 billion dollars. The operation, currently being formalised, would value Endeavor at around 25 billion dollars, while Diamondback’s market capitalization exceeds 27 billion.
The bulk of US drilling is concentrated between Texas and New Mexico, where demand for oil – despite the transition – is expected to increase until 2030, underlines the Bloomberg.
The financial agency recalls how, on the other hand, a consolidation is taking place in shale which has redesigned the contours of the American industry, with operations such as the acquisition by Exxon Mobil Of $60 billion Pioneer Resourcesor even the moves of Chevron on Hess ($53 billion) and more of Occidental Petroleum with CrownRock LP (10.8 billion).