{"id":5054,"date":"2024-07-02T17:55:29","date_gmt":"2024-07-02T20:55:29","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/entenda-o-recente-movimento-de-consolidacao-nas-big-oil-americanas\/"},"modified":"2026-09-29T15:16:41","modified_gmt":"2026-09-29T18:16:41","slug":"entenda-o-recente-movimento-de-consolidacao-nas-big-oil-americanas","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/entenda-o-recente-movimento-de-consolidacao-nas-big-oil-americanas\/","title":{"rendered":"Understand the recent consolidation movement in American Big Oil"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Nos \u00faltimos quatro anos, a crise energ\u00e9tica global resultou em um ac\u00famulo significativo de caixa para as petroleiras americanas, que venderam petr\u00f3leo a pre\u00e7os bem mais elevados do que a m\u00e9dia hist\u00f3rica. Mesmo em meio \u00e0s incertezas sobre o futuro do setor, elas t\u00eam direcionado esses recursos para o crescimento inorg\u00e2nico, expandindo suas opera\u00e7\u00f5es atrav\u00e9s de M&#038;A\u2019s.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Veja como essa movimenta\u00e7\u00e3o estrat\u00e9gica pode trazer vantagens para as grandes empresas petrol\u00edferas americanas.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid 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var(--light);padding-left:18px;margin-left:6px}\n.pil-time>div{position:relative;font-size:14px;line-height:1.5}\n.pil-time>div::before{content:\"\";position:absolute;left:-25px;top:5px;width:12px;height:12px;border-radius:50%;background:var(--navy)}\n.pil-time b.y{display:block;color:var(--light);font-size:16px;font-weight:800}\n\/* figuras (recortes do slide) *\/\n.pil-fig{margin:0}\n.pil-fig figcaption{text-align:center;font-weight:800;color:var(--light);font-size:16px;margin-top:4px}\n.pil-brand{background:var(--card);border-radius:14px;overflow:hidden}\n.pil-brand p{margin:0;text-align:center;font-size:20px;font-weight:800;font-style:italic;color:var(--navy);padding:10px 0 12px}\n@media (max-width:700px){\n  .pil-grid2,.pil-grid2.wide-left,.pil-grid2.wide-right{grid-template-columns:1fr}\n  .pil-grid3,.pil-grid4,.pil-grid5{grid-template-columns:1fr 1fr}\n  .pil-sec h2{font-size:17px}\n  .pil-bars{height:180px}\n  .pil-bars>div>span{font-size:10px}\n  .pil-years{font-size:9px}\n}\n@media (max-width:480px){\n  .pil-bars{gap:1.2%}\n  .pil-years{gap:1.2%;font-size:8px}\n  .pil-bars>div>span{font-size:8px;letter-spacing:-.3px}\n  .pil-bars:has(>div:nth-child(13))>div>span{writing-mode:vertical-rl;transform:translateX(-50%) rotate(180deg);top:auto;bottom:100%;padding-bottom:2px}\n  .pil-years:has(>span:nth-child(13)) span{writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto}\n}\n<\/style>\n<div class=\"pil\">\n\n<section class=\"pil-sec\">\n  <h2>O setor de petr\u00f3leo passou recentemente por 3 grandes movimentos de consolida\u00e7\u00e3o, que juntos totalizaram USD 147 bilh\u00f5es em investimentos<\/h2>\n  <div style=\"display:grid;gap:16px\">\n    <div class=\"pil-card\" style=\"border:2px solid var(--navy);border-radius:0;display:grid;grid-template-columns:minmax(110px,32%) 1fr;gap:18px;align-items:center\">\n      <div style=\"display:grid;gap:8px;justify-items:center;text-align:center\">\n        <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-conoco.png\" alt=\"Logo da ConocoPhillips\" loading=\"lazy\" style=\"max-width:150px\">\n        <span style=\"font-size:15px\">comprou<\/span>\n        <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-marathon.png\" alt=\"Logo da Marathon Oil\" loading=\"lazy\" style=\"max-width:140px\">\n      <\/div>\n      <div class=\"pil-p\" style=\"margin:0;font-size:15px;line-height:2\"><b>Data do an\u00fancio:<\/b> Maio\/2024<br><b>Valor da Transa\u00e7\u00e3o<sup>1<\/sup>:<\/b> USD 22,5 bilh\u00f5es<br><b>Receita Combinada<\/b> <sup>(2024E)<\/sup>: USD 66,7 bilh\u00f5es<\/div>\n    <\/div>\n    <div class=\"pil-card\" style=\"border:2px solid var(--navy);border-radius:0;display:grid;grid-template-columns:minmax(110px,32%) 1fr;gap:18px;align-items:center\">\n      <div style=\"display:grid;gap:8px;justify-items:center;text-align:center\">\n        <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-chevron.png\" alt=\"Logo da Chevron\" loading=\"lazy\" style=\"max-width:70px\">\n        <span style=\"font-size:15px\">comprou<\/span>\n        <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-hess.png\" alt=\"Logo da Hess\" loading=\"lazy\" style=\"max-width:95px\">\n      <\/div>\n      <div class=\"pil-p\" style=\"margin:0;font-size:15px;line-height:2\"><b>Data do an\u00fancio:<\/b> Outubro\/2023<br><b>Valor da Transa\u00e7\u00e3o<sup>1<\/sup>:<\/b> USD 60 bilh\u00f5es<br><b>Receita Combinada<\/b> <sup>(2024E)<\/sup>: USD 213,4 bilh\u00f5es<\/div>\n    <\/div>\n    <div class=\"pil-card\" style=\"border:2px solid var(--navy);border-radius:0;display:grid;grid-template-columns:minmax(110px,32%) 1fr;gap:18px;align-items:center\">\n      <div style=\"display:grid;gap:8px;justify-items:center;text-align:center\">\n        <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-exxon.png\" alt=\"Logo da ExxonMobil\" loading=\"lazy\" style=\"max-width:170px\">\n        <span style=\"font-size:15px\">comprou<\/span>\n        <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-pioneer.png\" alt=\"Logo da Pioneer Natural Resources\" loading=\"lazy\" style=\"max-width:140px\">\n      <\/div>\n      <div class=\"pil-p\" style=\"margin:0;font-size:15px;line-height:2\"><b>Data do an\u00fancio:<\/b> Outubro\/2023<br><b>Valor da Transa\u00e7\u00e3o<sup>1<\/sup>:<\/b> USD 64,5 bilh\u00f5es<br><b>Receita Combinada<\/b> <sup>(2024E)<\/sup>: USD 370,4 bilh\u00f5es<\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) Valor do enterprise value da transa\u00e7\u00e3o (considera equity + d\u00edvida)<br>Fonte: Website das companhias<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Alguns pontos em comum nas teses de investimento dessas transa\u00e7\u00f5es s\u00e3o:<\/h2>\n  <div style=\"display:grid;gap:26px\">\n    <div style=\"display:grid;grid-template-columns:56px 1fr;gap:16px;align-items:center\">\n      <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-ic-opex.png\" alt=\"\u00cdcone de pilhas de moedas\" loading=\"lazy\">\n      <div>\n        <div class=\"pil-sub\"><span>Economia de Opex<sup>(1)<\/sup><\/span><\/div>\n        <ul class=\"pil-list\">\n          <li>Otimiza\u00e7\u00e3o da cadeia de suprimentos e consequente economia de custos com fornecedores<\/li>\n          <li>Consolida\u00e7\u00e3o de infraestrutura: otimiza\u00e7\u00e3o do uso de \u00e1gua e areia nas opera\u00e7\u00f5es de xisto e otimiza\u00e7\u00e3o de cronogramas de embarca\u00e7\u00f5es no setor offshore<\/li>\n          <li>Elimina\u00e7\u00e3o de fun\u00e7\u00f5es administrativas redundantes<\/li>\n        <\/ul>\n      <\/div>\n    <\/div>\n    <div style=\"display:grid;grid-template-columns:56px 1fr;gap:16px;align-items:center\">\n      <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-ic-geo.png\" alt=\"\u00cdcone de globo\" loading=\"lazy\">\n      <div>\n        <div class=\"pil-sub\"><span>Complementariedade geogr\u00e1fica<\/span><\/div>\n        <ul class=\"pil-list\">\n          <li>Acesso ou fortalecimento de presen\u00e7a em determinados mercados<\/li>\n          <li>Aumento da efici\u00eancia log\u00edstica<\/li>\n        <\/ul>\n      <\/div>\n    <\/div>\n    <div style=\"display:grid;grid-template-columns:56px 1fr;gap:16px;align-items:center\">\n      <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5054-ic-exec.png\" alt=\"\u00cdcone de c\u00edrculos conectados em ciclo\" loading=\"lazy\">\n      <div>\n        <div class=\"pil-sub\"><span>Execu\u00e7\u00e3o operacional<\/span><\/div>\n        <ul class=\"pil-list\">\n          <li>Combina\u00e7\u00e3o de capacidade t\u00e9cnica e tecnol\u00f3gica para alavancar m\u00e9tricas operacionais da cia combinada<\/li>\n          <li>Uni\u00e3o de expertise e know-how para manuten\u00e7\u00e3o e expans\u00e3o de lideran\u00e7a de mercado<\/li>\n        <\/ul>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) Gastos operacionais<br>Fonte: Bain &amp; Company; Brazil Journal; McKinsey, \u00c1rtica<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Over the past four years, the global energy crisis has resulted in significant cash hoarding for American oil companies, which have sold oil at prices significantly higher than the historical average. Even amid uncertainty about the sector&#039;s future, they have channeled these resources into inorganic growth, expanding their operations through M&amp;A.<\/p>","protected":false},"author":1,"featured_media":5051,"template":"","meta":[],"class_list":["post-5054","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5051"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}