$33 Billion: Chevron has agreed to buy Anadarko Petroleum in a $33 billion deal that expands its shale-drilling ambitions and places it just behind ExxonMobil as one of the world’s largest publicly traded producers of oil and gas, The Wall Street Journal reports. The combined company will become one of the largest operators in U.S. shale basins at a time when America pumps more crude than Saudi Arabia and Russia. The value of Chevron and Anadarko’s fracking prospects exceeds $100 billion, more than double the nearest rivals, according to analytics firm Rystad Energy. Read the full story (subscription required).
IPO: There are no publicly traded companies headquartered in central Louisiana, but that may change as the holding company for Alexandra-based Red River Bank has registered with the U.S. Securities and Exchange Commission for an initial public offering of its stock, The Town Talk reports. Red River Bancshares Inc. has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol, RRBI. An estimated price per share in the IPO was not included in the S-1 form filed Wednesday with the SEC. A proposed maximum offering of $30 million was listed. Read the full story.
Empty boxes: Bed Bath & Beyond will be closing 40 stores and opening 15 new stores this year, though it has not announced where the closings will be, USA Today reports. The New Jersey-based home goods retailer—which also operates Buy Buy Baby, Harmon Face Values and World Market—announced mixed results during its fourth-quarter call with financial analysts this week. In the fourth quarter of last year, the company opened three stores and closed 21 stores. Read the full story.