Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
Yesterday, ConocoPhillips agreed to acquire Marathon Oil in an all-stock transaction valued at $17.1 billion. This was the next step in the consolidation of the oil and gas industry previously described by The Rabid Capitalist (see https://therabidcapitalist.com/2024/02/19/oil-prices-will-rise-courtesy-of-consolidation/). A small number of major oil and gas firms, including Exxon, Chevron and Occidental, will substantially control the domestic supply, creating highly attractive shareholder value as a consequence of implementing the ultimate roll-up strategy.
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