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EOG - Chevron Deal A Preview Of Coming Attractions?
EOG Resources Inc.
The big news today in the oil world is the big Chevron (CVX) buyout of Anadarko (APC).
The $33b price that Chevron paid is equivalent to a $65 share price for Anadarko, or at least it was premarket, before Chevron stock dropped $6 on the news.
In any case, WOW -- that's a heavy premium, even for one of the best asset portfolios in the energy space, which Anadarko undoubtedly is.
But quickly, let’s try to make some immediate takeaways from the Chevron deal, because big deals like this tend to