Shell (RDS.B, $38.97) will sell Permian assets to ConocoPhillips for $9.5 billion
Royal Dutch Shell has agreed to sell its Permian basin assets to ConocoPhillips for $9.5 billion cash.
If the transaction goes through, all of subsidiary Shell Enterprises’ interest in 225,000 net acres in the Permian basin will be transferred to ConocoPhillips.
The cash proceeds from the transaction will be used to fund $7 billion in additional shareholder distributions after closing. The remaining amount will be used for further balance sheet strengthening .
The deal is subject to regulatory approvals.
The effective date of the sale was July 1, with the deal closing expected in the fourth quarter of 2021.
Shell's Permian employees in Midland, Texas, and Houston will be offered employment opportunities with ConocoPhillips under terms of the transaction.
Stocks in the group have a Positive Outlook today, backed by the 15 Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 53%. During the last month, the daily ratio of advancing to declining volumes was 1.29 to 1.
31 stocks in the group of tickers exhibit a similar positive trend based on the BollingerBands indicator with an average likelihood of 75%.
The most notable companies in this group are Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), BP plc (NYSE:BP), Petroleo Brasileiro Sa-Petrobras ADS (REP 1 Common Share) (NYSE:PBR), Suncor Energy (NYSE:SU), APA Corp (NASDAQ:APA), Chesapeake Energy Corp (NASDAQ:CHK), Tellurian (NASDAQ:TELL), YPF Sociedad Anonima (NYSE:YPF).
The average market capitalization across the group is 31.2B. The market cap for tickers in the group ranges from 1.3M to 375.5B. XOM holds the highest valuation in this group at 375.5B. The lowest valued company is TDNT at 1.3M.
- 5/10/22 5:36 AM: Exxon Mobil (XOM, $84.46), market cap dropped by $30.6B
- 4/22/22 6:39 AM: PetroChina (PCCYF, $0.47), market cap jumped by $45.2B
- 4/5/22 5:37 AM: PetroChina (PCCYF, $0.53) saw a $58.2B market cap increase this week
The average weekly price growth across all stocks in the group was 1.73%. For the same group, the average monthly price growth was -8.44%, and the average quarterly price growth was 17.49%. INDO experienced the highest price growth at 26.92%, while ARSEF experienced the biggest fall at -47.79%.
- 5/12/22 5:38 AM: Exxon Mobil (XOM, $86.79) was a top loser this week, declining -5.35%. Expect a Downtrend reversal
- 5/12/22 5:38 AM: BP (BP, $30.22) was a top loser this week, declining -5.12%. Expect a Downtrend reversal
- 5/12/22 5:38 AM: APA (APA, $38.3) was a top loser this week, declining -15.27%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the group was 33.04%. For the same stocks of the group, the average monthly volume growth was 256.68% and the average quarterly volume growth was 3990.42%
- 4/30/22 5:53 AM: The volume for National Fuel Gas stock increased for one day, resulting in a record-breaking daily growth of 292% of the 65-Day Volume Moving Average
- 3/19/22 4:44 AM: The volume for Hess Midstream stock increased for a consecutive 5 days, with an average daily gain of 274%
- 3/18/22 7:08 AM: The volume for Hess Midstream stock increased for four consecutive days, resulting in a record-breaking daily growth of 97% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows