3 years too late they should have locked in a deal in 2015 or by...

3 years too late they should have locked in a deal in 2015 or by Q1 2016 with either acquiring Anadarko, Conoco or even HESS for that matter.

Anyways CVX to buy APC for USD33bil.

https://www.chevron.com/stories/chevron-announces-agreement-to-acquire-anadarko

Acquisition gives them access to 1P reserves of 1470 mmboe. So the metric for a Cashflow producing asset owner is USD 22.45/boe for 1P.

Chevron also take up Anadrako's debt of USD15bil. Gets access to African projects esp. the Mozambique LNG, Algeria and also Ghana's Jubilee, TEN oilfields. Majority of the assets are based onshore USA and in the GoM, so less Govt approvals to deal with. Who else is left behind in this space next, Conoco, EOG, Occidental, Apache, Hess, Marathon & Devon for a cashed up Buyer.