Euro Majors Coy on Permian Expansion Amid Anadarko Battle

摘要

The bidding war for control of Anadarko Petroleum has focused the oil industry's’attention firmly on the North American onshore.Chevron and Occidental Petroleum are both chiefly interested in Anadarko's shale oil assets in Texas and Colorado,and in particular the opportunity to expand their footprint in the prolific Permian Basin of West Texas.Consolidation is the name of the game,as the majors and large independents seek economies of scale and greater bar- gaining power.BP-which had previously lacked exposure to the major US shale plays-picked up positions in the Permian and Eagle Ford with its $10.5 billion acquisition of BHP's US onshore assets last year(EIF Aug.1'18).But,for now at least,the European majors appear to be holding off on further acquisitions,claiming their hands are already full.