Joe Sinnott, CEO, Witting Partners and host of The Energy Detox Podcast comments on the recent Chevron purchase of Hess.
Sinnott, a former engineer, current executive coach and veteran of a multi-billion dollar energy acquisitions, walked host Jason Spiess through the pros, cons and pitfalls of these major mergers.
To listen to Sinnott breakdown the ExxonMobil Pioneer deal on Townsquare Media KLXX-AM Super Talk 1270’s Talk of the Town, click here.
Often times, of any merger size, you will have duplication of departments, personnel and budgetary items. Often these are the first to be impacted. Human resources, sales, chemistry, marketing, C-Suite and general administration are often in this duplication area.
Sinnott and Spiess also talk about the supply chain. Many service companies, cafe caterers and flower shops are part of the oil and gas industry and become impacted by these mergers and buyouts.
The two also discuss how investors view these buyouts too. This is a completely different take than the previous two point of views.
The C-Suite Executives are the ones tasked to find the balance and positive workplace culture between the investors and workers, this can become very tricky during mergers and acquisitions.
During the interview, there was “breaking news” out of the Marcellus, where SCWorx entered into a letter of intent to acquire American Energy Partners, an environmental services company headquartered in Pennsylvania.
The deal will be considered a "reverse merger" and will see SCWorx shareholders retaining 17% and American Environmental receiving 83% of the combined company.
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Award winning interviewer and broadcast journalist Jason Spiess and a team of Content Correspondents engage with the industry’s best thinkers, writers, politicians, business leaders, scientists, entertainers, community leaders, cafe owners and other newsmakers in one-on-one interviews and round table discussions.
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Sinnott Breaks Down What Happens When Mergers, Aquisitions and Buyouts Happen