Deal Insight
Oxy acquires CrownRock for US$12 billion
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
With the US$12 billion acquisition of CrownRock by Occidental, Permian M&A spend surpasses US$100 billion this year and further extends an already record year. At roughly 750,000 boe/d, Oxy will become the third largest producer in the Permian – behind just Chevron and ExxonMobil/Pioneer.By our numbers, Oxy didn't need the extra drilling inventory – but increasing its weighting in the oilier Midland Basin was likely a significant deal motivator.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Midland Basin acreage map
- Midland Wolfcamp Well results (2020 - 2023); Midland Spraberry well results (2020-2023)
- Upstream assets: Table 1
- Midland inventory by bench (US$60 WTI; US$3.15 HH; 15% IRR)
- Inventory build-up by WTI price
- Inventory sensitivity for Wolfcamp and Spraberry benches
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
Other reports you may be interested in
Insight
US upstream week in brief: Q4 2024 archive
The US week in brief highlights the need-to-know current events from US upstream. Stories are supplemented with proprietary Woodmac views.
$1,350
Asset Report
Niglintgak
The Niglintgak field is 100% owned and operated by Shell. In July 2011, Shell announced its intention to divest its 11.4% interest in ...
$3,720
Asset Report
Taglu
The Taglu field is 100% owned and operated by Imperial Oil. It is the largest of the three gas fields in the Mackenzie Gas Project ...
$3,720
