I Am Not In Love with Occidental’s Deal: Serengeti’s Biddle

The transcript discusses Chevron's disciplined approach to its bid for Anadarko, emphasizing the importance of capital discipline and shareholder value. Leslie Biddle shares her views on OXY's deal, highlighting concerns about debt and changes in dividend policies. The conversation shifts to M&A trends in the energy sector, with a focus on the Permian Basin and the potential for future deals. The discussion also covers credit strategies and deleveraging efforts by energy companies to reduce costs and improve financial stability.

What was Chevron's main reason for withdrawing from the Anadarko bid?

• Desire to maintain capital discipline and shareholder value

• Regulatory concerns

• Lack of interest in Anadarko's assets

• Pressure from competitors

According to Leslie Biddle, what is a major concern regarding OXY's deal with Anadarko?

• The regulatory hurdles involved

• The deal's impact on Chevron

• The high premium and potential financial strain on OXY

• The lack of strategic assets in the deal

What does Leslie Biddle suggest about the future of M&A in the energy sector?

• It will focus on acquiring new technologies

• It will be driven by reducing costs and overhead

• It will decline due to market saturation

• It will primarily involve international companies

Which companies are mentioned as potential players in future M&A activities in the Permian Basin?

• Total and Eni

• BP and Shell

• Pioneer, Concho, and Diamondback

• Chevron and ExxonMobil

What is the expected trend for companies in the energy sector according to the discussion?

• Shifting focus to renewable energy

• Increasing leverage and expansion

• Reducing leverage and focusing on synergies

• Maintaining current operational levels