The U.S.’ Growing Oil Production Footprint
On October 26th, 2023, CGA’s Associate Dean, Dr. Carolyn Kissane, published an article on Barron’s, The Big U.S. Footprint on Oil Production Just Got Bigger, analyzing deals made by two of the largest oil producers in the country. Dr. Kissane explains,
First, out of the deal gate, Exxon Mobil (XOM -2.17%) made a bold move, agreeing to acquire Pioneer Resources for an impressive $59.5 billion. Not long after, and not to be outdone, Chevron (CVX -5.85%) followed with a substantial $53 billion acquisition of Hess. These two deals represent not just large financial transactions in a space scorned by some investors but also strategic moves that bolster the reserves, market positions, and geographic security of these two American oil behemoths.
Want to keep reading? Click here to view “The Big U.S. Footprint on Oil Production Just Got Bigger” on Barron’s.
