The In­di­ca­tor: $532,400,000,000

Alberta Oil - - OBSERVER NEWS NUMBERS PEOPLE PLACES -

THAT’S HOW MUCH DRY POW­DER THE WORLD’S SIX

largest su­per­ma­jors had left to spend on trans­ac­tions at the end of the third quar­ter of 2015, ac­cord­ing to Bloomberg. ExxonMo­bil led the way by a good dis­tance, with $320 bil­lion in cash and trea­sury shares avail­able for any po­ten­tial deal, fol­lowed by Chevron with $65 bil­lion and BP with $53 bil­lion. Royal Dutch Shell was in fourth place, with $32.4 bil­lion, fol­lowed by Cono­coPhillips with $31.5 bil­lion (the vast ma­jor­ity of which is com­prised of trea­sury shares) and To­tal SA with $30.5 bil­lion. Time will tell whether they ac­tu­ally de­ploy it or not, but it’s worth re­mem­ber­ing that ExxonMo­bil’s last two ma­jor ac­qui­si­tions – the US$75.3 bil­lion merger be­tween Exxon and Mo­bil that was an­nounced on Novem­ber 30, 1998, and the US$36 bil­lion ac­qui­si­tion of XTO En­ergy that was an­nounced on De­cem­ber 14, 2009 – both hap­pened at the oil mar­ket’s nadir.

Rex Tiller­son, CEO of ExxonMo­bil, which had $320 bil­lion in cash and trea­sury shares avail­able for trans­ac­tions in Q3 2015

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