Exxon’s board upheaval will prompt other drillers to merge higher returns with greener investments. Buying Texas oil ironically could fit that bill; acquisitions can actually help them look greener, too, rob_cyran explains.
The number of U.S. oil and gas mergers year-to-date is at its second lowest level in a decade, with just 81 announced deals so far this year, according to data from Refinitiv at the end of May. Only 2020 was lower.
Oil pump jacks work at sunset near Midland, Texas, U.S., August 21, 2019.Canada Latest News, Canada Headlines
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