Somebody's having a great weekend

[CentralTexasCrude]

Headline- "Chevron to buy shale driller PDC in $6.3 billion stock deal"


Chevron Corp. said it will buy driller PDC Energy Inc. in a $6.3 billion all-stock deal, allowing Chevron to expand its holdings in shale basins in Colorado and West Texas.

Chevron will pay $72 a share, a roughly 14% premium on a 10-day average based on May 19 closing prices, according to a statement Monday. PDC shareholders will receive 0.4638 shares of Chevron for each PDC share.


“PDC’s attractive and complementary assets strengthen Chevron’s position in key U.S. production basins,” Chevron CEO Mike Wirth said in the statement. “This transaction is accretive to all important financial measures and enhances Chevron’s objective to safely deliver higher returns and lower carbon.

Oil and gas producers are flush with cash after raking in record profits over the past two years, leaving the US energy patch ripe for a takeover boom. Companies are looking to bulk up and consolidate, particularly in the Permian Basin of West Texas and New Mexico, the most prolific US shale play.

I don't know who owns PDC, but they are having a great weekend somewhere.

[Animal]

their stock is actually about the same price as it was 5 years ago. And it pays a 2.3% dividend. Not really much of a play as far as stocks go. I would have expected it to have gone up much more. Unless this deal was kept secret until after the close Friday. But I seem to remember a story on the radio friday talking about Chevron buying some Permian oil company.

[CentralTexasCrude]

their stock is actually about the same price as it was 5 years ago. And it pays a 2.3% dividend. Not really much of a play as far as stocks go. I would have expected it to have gone up much more. Unless this deal was kept secret until after the close Friday. But I seem to remember a story on the radio friday talking about Chevron buying some Permian oil company.

Announced way last Tuesday. JP Morgan and Morgan Stanley involved. I just mean think about the owner(s) and board members involved. Worked their asses off building PDC in some gruesome business climates and their work just paid off BIG TIME. They are having a great Memorial Day celebration. Not just the cash either. Almost 1-2 (PDC-Chevron) stock swap deal too. Sweet

[stonedmegman]

Fuck oil companies and their profits.

[CHEEZY17]

Ive about doubled my money with my Exxon/Mobile purchase and it pays a sweet dividend. Hope this helps.

[disco.moon]

I am thanks!

[disco.moon]

I visited some friends and their little girl is learning to read so they have sight words all over the house.

[rule34]

I visited some friends and their little girl is learning to read so they have sight words all over the house.

So does wtc.

[Animal]

they seem to be teaching the child correctly.

[Bluespruce1964]