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Chevron Corporation’s (NYSE:CVX) involvement in Chesapeake Energy Corporation’s (NYSE:CHK) $6.9 billion land divestiture in the Permian Basin did not come as a shock to Tudor Pickering, since the former’s footprint is there already, but the analyst thinks it “somewhat surprising” that Royal Dutch Shell (NYSE:RDS.A) was in on the deal, as it has “not much, if any, Permian exposure currently.” However, Macquarie says that Shell’s tech enables it to be better positioned than its competitors to benefit from low domestic gas prices, and that the sale price is reasonable when its superior cash generation is considered.
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Another impediment is in the way of MetLife, Inc.’s (NYSE:MET) intentions to divest its banking division to the General Electric Company (NYSE:GE), as regulators are still questioning GE’s plans for the business. On Tuesday the FDIC met again to discuss the case, but no action was taken. The transaction originated in December, and was to have been finalized by now.
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