ENERGIES

Letter from the Editor-in-Chief (Summer 2024)

Occidental Petroleum Corp. CEO Vicki Hollub shook up the oil and gas industry in August of 2019 with the $55 billion decision to acquire Anadarko Petroleum Corp., which included the assumption of Anadarko’s debt. At the time, the bold move was met with skepticism and, in some corners, outright derision. In November of 2023, Oxy’s whole owned subsidiary, Oxy Low Carbon Ventures (OLCV) CE Holdings, ULC, completed its $1.1 billion purchase of the direct air capture technology company, Carbon Engineering, Ltd. Oxy is currently in negotiations to acquire shale producer CrownRock in a $12 billion cash-and-stock deal including debt.

Hollub could be on to something. In the five years since the Anadarko deal, other Majors have become Super Majors as a result of mergers and acquisitions, something Managing Editor Nick Vaccaro discussed in his December 2023 article. In May, Hess shareholders approved the company’s $53 billion purchase by Chevron and are awaiting regulatory approval. Surpassing even the Oxy-Anadarko deal, ExxonMobil is fresh off its $60 billion May acquisition of Pioneer Resources. And, just this past week, ConocoPhillips announced a $22.5 billion agreement to purchase Marathon Oil. Traditional oil and gas companies have incorporated renewables into their portfolios and gradually become all-inclusive energy companies.

In keeping with U.S. Energy Media’s philosophy of the importance of including all forms of energy and all people, the publisher is undergoing a merger of sorts: Combining all three publications – Oilman, Oilwoman and ENERGIES –  into one platform, featuring all types of energy – with new ones yet to be fully developed and brought to scale – and the people that power those industries. Watch this space for further details and, in the meantime, visit the website and subscribe to continue reading about what the future holds from the people at the forefront of the industry.

With the dog days of summer (the period of peak temperatures from July to August) fast approaching, emphasizing the effects of climate change, it isn’t hard to comprehend the need to join forces to solve the energy trilemma: The goal of providing the world’s population with access to secure, affordable and sustainable energy.

Author Profile
Rebecca Ponton
Editor-in-Chief - 

Rebecca Ponton has been a journalist for 25+ years and is also a petroleum landman. Her book, Breaking the GAS Ceiling: Women in the Offshore Oil and Gas Industry (Modern History Press), was released in May 2019. For more info, go to www.breakingthegasceiling.com.

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