Chevron Acquires Anadarko and Maintains Focus on Pre-Salt

Confirming Your Plan to Prioritize the Pre-Salt, Chevron Buys Anadarko and Increases Its Stakes in Brazil

Another major merger of oil companies has just occurred, as Chevron announced on Friday (4/12) an agreement to acquire Anadarko for US$ 33 billion.
It is worth remembering that in February 2016, Shell and BG merged, in a deal that made Shell Petrobras’ main partner in the pre-salt.

The negotiation has already been approved by the boards of directors of both companies and should be completed in the second half of this year, as it still requires approval from regulatory authorities.
The company will be headquartered in San Ramon, California (USA), and the CEO of the company will be Chevron’s president, Michael Wirth.

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Current Portfolio of Chevron

With the operation, Chevron expanded its portfolio in Brazil from eight to ten areas and now owns 30% and 33%, which was previously Anadarko’s, in blocks C-M-101 and C-M-61 (Campos Basin), respectively.

Certainly, Chevron holds stakes in four more areas of the Campos Basin, namely: C-M-791 (40%), C-M-821 (40%), C-M-823 (40%) and in the Papa-Terra field (37.5%).
The oil company also has a presence in the Santos Basin, where it holds stakes in CE-M-715 (50%), in the Ceará Basin; in block S-M-764 (40%), and in the sharing areas of Três Marias (30%) and Saturno (50%).

With the acquisition of Anadarko, Chevron only confirms its current focus, which is the exploration of pre-salt fields, and for that reason, it has disposed of some of its assets.

At the end of last year the company sold its 51.74% stake in the Frade field to the Brazilian PetroRio. The Frade field is the same one where an oil spill occurred in 2011.
Another major sale by Chevron was the 30% stake it held in the Maromba field to BW Offshore in March of this year.

In another major merger, this time between drilling operators, Ensco and Rowan join forces to have 82 Offshore Rigs! Click here for details!