Make sure you always read the small print!

Published on 18.04.2019

Business Advice - be careful to read the small print and be patient when waiting for a bus!

Picture the scene ... you’re in the market for an Upstream Oil & Gas Company and you’ve got a budget of approx. $30 Billion ... +/- 10% (just like an AFE)

Anadarko fits the bill at $33Bn. Most of the news headlines that I read in relation to this mega deal carried the $33Bn price-tag. But a few were stating $50Bn. I’m all for a bit of rounding but not when it’s $17Bn!

The $50Bn figure includes the debt which Chevron will be absorbing as part of the deal. Big numbers, smoke and mirrors have always been close companions.

By the way, in my experience these mega deals tend to be like buses … none for a while but then at least two arrive at the same time!

Drew Leitch