Publication date:
December 10, 2023
Endeavor Energy Poised for Up to $30 Billion Sale in Oil Sector Shake-Up
Endeavor Energy plans a sale up to $30B, marking a strategic shift in the shale sector amid a wave of industry consolidations.
Acquisition
Endeavor Energy, the largest privately-held oil and gas producer in the Permian basin, is exploring a sale potentially worth between $25 billion and $30 billion. This potential sale is part of a strategic move by founder Autry Stephens, capitalizing on the current trend of major mergers and acquisitions in the energy sector. The sale process, expected to begin in early 2024, is being facilitated by JPMorgan Chase. This move comes amid a wave of consolidation in the industry, where companies are merging to enhance scale and secure prime drilling locations. The significant holdings of Endeavor in the Permian Basin make it an attractive acquisition target for major industry players like Exxon Mobil, Chevron, and ConocoPhillips. The sale represents a shift in the dynamics of the North American shale landscape and indicates the maturing nature of the shale industry.