The Maria field in the Norwegian Sea came onstream a year ahead of schedule and ~$370m underbudget.
Chevron Corporation says that, under the terms of its previously announced Merger Agreement with Anadarko Petroleum Corporation, it will not make a counterproposal and will allow the four-day match period to expire. Accordingly, Chevron anticipates that Anadarko will terminate the Merger Agreement.
Exploration activity bounced back in 2018 but declining performance points to the limitations of the global exploration drilling opportunity set and the urgent need for its renewal in 2019 and beyond.
Anadarko Petroleum Corporation (NYSE: APC) has announced that its board of directors, in consultation with its financial and legal advisors, has unanimously determined that the revised acquisition proposal it received from Occidental Petroleum Corporation on May 5, 2019 (the "Revised Occidental Proposal") constitutes a "Superior Proposal" as defined in Anadarko's previously announced merger agreement with Chevron Corporation (the "Chevron Merger Agreement").
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