Found this - not a lot of intel just observation


https://oilgasleads.com/civitas-resources-may-be-exploring-strategic-alternatives-what-a-potential-sale-could-mean/

3rdGenAg05 said:

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As a side note: Can someone help me understand why these big companies announce huge layoffs months in advance? Are they just hoping to send morale so low people just quit, negating their severance options?

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The Worker Adjustment and Retraining Notification (WARN) Act requires businesses to provide notice 60 days in advance of plant closures or mass layoffs. I believe the definition of a mass layoff a layoff of 500 or more workers, or layoffs affecting 50 or more workers representing at least one-third of the workforce at a single site. So its not like these companies are running to the press to announce layoffs. They are legally required to post them to state workforce commissions. It seems they can get around it by spreading layoffs out or offering retirement packages first as those technically aren't layoffs.

That's a big reason. But some also announce it even if it doesn't qualify for the WARN act.

Sometimes they just want the street to know they have G&A reduction (so increased cash flow) goals.

Edit: and some have policies and practices that make it necessary. For example, if you're requiring your employees to apply for the jobs that'll be available post reduction then you kind of have to announce the RIF ahead of time.

I think part of it is also that the news will get around and it's probably better to state it openly than have it simmer quietly. Morale hit either way, but one is more poisonous long term.

Berkshire Hathaway buying OxyChem

https://gasprocessingnews.com/news/2025/10/berkshire-hathaway-inc-to-acquire-oxychem-for-97-bilion/?oly_enc_id=1138C8702801J8V

Fun day for waha.

Dirty Mike and the Boys said:

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Fun day for waha.

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Could be worse - look at AECO

Nah, waha took the cake today in phys. Printed the lowest it's ever printed by a couple of bucks at -$9.25.

Take my gas and my money. I've got no need for either.

Dirty Mike and the Boys said:

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Nah, waha took the cake today in phys. Printed the lowest it's ever printed by a couple of bucks at -$9.25.

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yup. PHP going down 1.2BCF/day for the next 2 weeks. plus, there's another .5BCF offline.


the gas plants are going to be doing whatever they can to recover as much liquids as possible to open any space possible.

Furlock Bones said:

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Dirty Mike and the Boys said:

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Nah, waha took the cake today in phys. Printed the lowest it's ever printed by a couple of bucks at -$9.25.

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yup. PHP going down 1.2BCF/day for the next 2 weeks. plus, there's another .5BCF offline.


the gas plants are going to be doing whatever they can to recover as much liquids as possible to open any space possible.

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c2 recovery is the name of the game right now

Berkshire already owns almost 1/3 of Oxy and is the largest shareholder of anyways. This feels like a spinoff more than a sale.

Makes you wonder if Buffett is setting them up for a sale, or do they become an acquirer.

A merger with Diamondback would be interesting.

Will be interesting to see which of a number of scenarios Berkshire is playing out here.

They're limited on % ownership of Oxy up to 50% and currently sitting at 32%.

It may have been easier to unlock additional income from Oxy by avoiding the % ownership altogether and outright purchasing OxyChem.

Wow Oxy stock did not take well to this news.

txaggie_08 said:

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Makes you wonder if Buffett is setting them up for a sale, or do they become an acquirer.

A merger with Diamondback would be interesting.

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Buffet doesn't buy companies to sell them. He buys them to hold forever.

I think the only thing holding up this fragile economy is low oil prices. Inflation would be a lot higher with $80 oil.

MavsAg said:

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It'd be nice if inflation hit WTI

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Unfortunately, I think it has.

$80 is the new $60

ChemAg15 said:

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$80 is the new $60

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Certainly worth debate. One of the primary outputs of the oil industry is technology. A lot of prognosticators point to the longterm price of oil is likely lower rather than higher given increasingly prevalent shale sources and the increasing ability of companies to produce from oil sands.

Gold to oil ratio is helpful since it, to some degree, tries to solve for inflation.



The inflection point here is really the early 2000's when fracking technology became so prevalent.

Denver-based Civitas Resources reportedly entered advanced talks to merge with SM Energy, a longtime Midland Basin operator.

According to multiple reports, the companies are exploring a merger of equals that would create a combined entity valued around $14 billion, including debt.

Done deal?

I guess oil is getting easier and cheaper to find and drill

Did this deal close at the end of Q3 as expected and who bought the DJ Asset from Civitas?


Civitas said in its earnings release it had executed two agreements to divest non-core D-J assets with a total value of $435 million before customary closing adjustments.

Yep. In addition to that, there are lots of avenues to use crude/gas interchangeably already and the number of products that can use either as a raw material is getting higher by the day. That will lower oil prices over time as well.

WTI back below $60.

Need someone to sell or something, thread is slowing to a crawl. I guess we are in Q4 and not much M&A happens in Q4. Also seems the Permian is running out of core acreage that hasn't already been gobbled up, so maybe that plays a role here.

Maybe some gas consolidation is in the cards.

Crude looking awful right now. Obviously it's EIA so grain of salt, but they have a projected average price for 2026 of $47.77

topher06 said:

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Need someone to sell or something, thread is slowing to a crawl. I guess we are in Q4 and not much M&A happens in Q4. Also seems the Permian is running out of core acreage that hasn't already been gobbled up, so maybe that plays a role here.

Maybe some gas consolidation is in the cards.

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Doesn't OxyChem selling to Berkshire Hathaway count?

OPEC increasing production, global strife tempering, and US rig count kind of stagnant since June. Don't see any catalyst for it to stabilize...

PeekingDuck said:

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OPEC increasing production, global strife tempering, and US rig count kind of stagnant since June. Don't see any catalyst for it to stabilize...

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Trump claims India won't be buying Russian oil much longer, so there's that.

🔴 Trump: India's Prime Minister Modi assured me they won't buy Russian oil.

— FinancialJuice (@financialjuice) October 15, 2025

Lots of furloughs in frac services in the Permian and Haynesville last week. This has that 2014 feel to it.

topher06 said:

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Need someone to sell or something, thread is slowing to a crawl. I guess we are in Q4 and not much M&A happens in Q4. Also seems the Permian is running out of core acreage that hasn't already been gobbled up, so maybe that plays a role here.

Maybe some gas consolidation is in the cards.

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I heard a rumor of Chevron looking to buy Permian Resources today. Not sure how much stock I would put in it.

Never a bad time to start the XOM is going to buy (pick one) rumors