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Botley Full Money starts now.

Little. Botley Full Money starts now. Little bit of news to get through and joining us to do that is Nick Saipel Nick.

Good to see you.

Yeah, great to be here with you, Ricky.

You know, Deidra likes doing M&A Mondays, but we got another pretty major acquisition going on to start us off on Tuesday.

Occidental Petroleum, which engages in the exploration and production of oil and natural gas,

has agreed to buy Crown Rock a private

energy producer for $12 billion. Break this down. Why does Occidental want to buy a Crown Rock?

Well this continues a wave of really

consolidation in the oil and gas industry particularly in the Permian Basin the

shale patch in the US over the past year. Lots of folks recognizing that they've maybe used some of their best drilling inventory looking to secure inventory over for the long term.

Occidental is one of those companies. These assets that they're acquiring from Crown Rock are complementary to its existing

portfolio in the Permian basin gives them access to additional inventory in a basin

that's starting to reach maturity is going to make them one of the largest producers

in the Permian.

Also, CEO Vicky Holub has said it's going to give them the ability to weather down turns

in a more robust way because Crown Rocks Wells have a little bit lower decline

rates than that from what you see in

their core portfolio so to position them to be able to withstand a little bit

different environments also worth noting here looking at at Occidental the way they're

structuring this deal using ten billion dollars in debt a lot more aggressive than some of the other deals you've seen out there in the market for example

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