News

ConocoPhillips tipped to join oil and gas takeover spree with $15 billion swoop - Upstream Online

Upstream Online · last updated

ConocoPhillips tipped to join oil and gas takeover spree with $15 billion swoop | Upstream Online

ConocoPhillips is considering making an offer for privately held CrownRock, an energy producer in the Texas part of the Permian basin, Reuters reported on Thursday.

CrownRock is valued at between $10 billion and $15 billion, sources told Reuters.

The company’s investment bankers have asked interested parties to submit their initial offers next week. Diamondback Energy, Devon Energy, Marathon Oil and Continental Resources are also studying potential bids, according to the report.

View full article

Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

More information

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.

Sign up