Chevron Corp CVX:NYSE

Last Price$116.31NYSE Closing Price as of 4:10PM ET 10/15/19
NYSE 15-minute delayed Bid/Ask Quotes
Today's Change+0.13(0.11%)
Bid (Size)$116.31 (1)
Ask (Size)$117.64 (1)
Day Low / High$115.80 - 117.62
Volume3.7 M

Market Chatter: Parsley Energy 'Attractive' for Any Type of Buyer, Says CEO

1:44PM ET 6/14/2019 MT Newswires
Parsley Energy (PE) will be "attractive" for any potential buyer as the company expects to generate positive free cash flow in H2, Bloomberg reported on Friday, citing CEO Matt Gallagher.

"We are attractive for purchasers whatever type of investor it is," Gallagher said in a phone interview with Bloomberg on Thursday. He declined to say if the US shale driller had been approached for a deal.

"We are in a small handful of companies that have some of the best rock and a healthy business model and a very long runway of inventories," Gallagher added. He said expects "healthy consolidation" among independent drillers operating in the world's largest shale basin in the next decade, according to the report.

The $38 billion takeover of Anadarko Petroleum (APC) by Occidental Petroleum (OXY) last month enhanced speculation that there will be an M&A spree among companies exploring for oil in the Permian Basin. However, major producers such as Exxon Mobil (XOM) and Chevron (CVX) have said that they are cautious about buying smaller rivals as sellers are demanding too much money.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 17.04, Change: -0.41, Percent Change: -2.35