Exxon Mobil, Royal Dutch Shell and Chevron could pursue North American buys - report

Exxon Mobil, Royal Dutch Shell and Chevron, the three listed oil companies, could look to pursue buys, reported the Wall Street Journal. The report, citing analysts, stated all three companies are in a good financial spot to look for buys, primarily in North America. According to the report, North America oil companies are good targets because North America is seen as a good place to engage in energy investments. According to the report, one target is Hess of New York, but analysts’ notes its market capitalization of USD 13.9bn may make it too small of a target. Other targets include Devon Energy of Oklahoma City, EnCana, Suncor Energy and Nexen of Canada and XTO Energy of Texas. ConocoPhillips of Texas is seen as a target and a buyer. Exxon is based in Texas, while Royal Dutch Shell is based in Netherland and Chevron is based in California. Chevron, with a market capitalization of USD 162bn is the smallest of the three, reported the Wall Street Journal.