Anadarko Petroleum will pay 21 billion (EUR 16.8 billion) in cash to get their hands on Western Gas and Kerr-McGee, thus becoming the first petroleum producer and independent gas of the United States, without refining or chemical activities. While natural gas and oil prices continue climb and that competent personnel are scarce in the sector across the Atlantic, James Hackett, CEO of the Texas Group, believes that he can afford to pay a premium of more 40 to each of these two groups. Its purpose is to increase its presence in the Rocky Mountains, rich in natural gas, and in the Gulf of the Mexico, heart of the American energy sector.
The three groups referred to as merge conducted last year turnover accumulated, $ 17 billion compared to the 11 billion posted by Devon, the second independent producer in the country. The first of these companies involved exclusively in the exploration-production was long Burlington Resources, until it was taken the fall last by ConocoPhillips for approximately $ 36 billion. Anadarko Petroleum will remain however far from the first oil group integrated us, ExxonMobil, whose turnover is established to 328 billion in 2005. In the United States, where the oil groups want to be strengthened to avoid any difficulty geopolitical order abroad, it will be the 5th largest producer of oil.
Of the two groups to acquire Kerr-McGee, pioneer of oil exploitation in the Gulf of the Mexico, is by far the largest: supply the values in $ 16.4 billion. The value of this company is appreciated by 57 in one year, including under the pressure of us billionaire Carl Icahn, who exerted pressure in April 2005 that management launches 4 billion share buyback program. Western Gas, that the buyer will pay nearly $ 4.7 billion, began it was a decade to strengthen its operation of natural gas in the Rocky Mountains. "Already present in this region, Editor's note AnadarkoPetroleum will it become a true bastion", welcomed the pattern of Western Gas, interviewed by the Agency Bloomberg.
Reversal of fortune
Technical progress and the increase in energy prices make more profitable extraction of gas in the soil of the Rocky Mountains that will become the first producing region of the United States starting this year. This acquisition marks a reversal of fortune fairly remarkable for Anadarko Petroleum. Three years ago, before the arrival of its new CEO James Hackett, this group of Houston was indeed considered to be a target. By transferring assets and streamlining its balance sheet, the company was able to recover on Wall Street. Today, the leader explains that it is in a reversal of the financial markets for the petroleum groups since mid-May that he managed to convince the directions of Kerr-McGee and Western Gas to sell. At the announcement of this double transaction, the shares of Anadarko Petroleum suffered Friday their more heavy fall in the stock market for four years ( 7,21 at the end). James Hackett must now prove to markets that it has not overpaid its prey.
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