Texas Billionaire Timothy Dunn Backed US Oil & Gas Player Explores $10B Sale
Portfolio Pulse from Vandana Singh
CrownRock, backed by billionaire Timothy Dunn, is reportedly preparing for a potential sale that could surpass $10 billion, marking a significant milestone in the U.S. oil and gas industry. The company has initiated discussions with investment banks to oversee the sale process. Oil industry giants like Exxon Mobil Corp and Chevron Corp are expected to be approached for the potential acquisition. The decision to explore a sale is driven by the recent upswing in oil prices and high demand for positions in the prosperous Permian basin, where CrownRock operates.
September 14, 2023 | 11:29 am
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POSITIVE IMPACT
Chevron Corp may be approached for the potential acquisition of CrownRock. This could potentially expand Chevron's assets and operations in the Permian basin.
If Chevron Corp acquires CrownRock, it could potentially expand its assets and operations in the Permian basin, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Exxon Mobil Corp may be approached for the potential acquisition of CrownRock. This could potentially expand Exxon's assets and operations in the Permian basin.
If Exxon Mobil Corp acquires CrownRock, it could potentially expand its assets and operations in the Permian basin, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70