Post Tagged with: "Anadarko"

U.S. crude oil production efficiency continues to improve

U.S. crude oil production efficiency continues to improve

EIA



U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average first full month of oil production from new wells …

February 1, 2020 - 7:19 pm Crude Oil News, EIA News That Matters
Exclusive: Occidental seeks up to $700 million for Anadarko assets in Wyoming, Colorado – sources

Exclusive: Occidental seeks up to $700 million for Anadarko assets in Wyoming, Colorado – sources

Source: Reuters


HOUSTON (Reuters) – Occidental Petroleum Corp is soliciting bids for oil and gas properties in Wyoming and Colorado that it acquired when it purchased Anadarko Petroleum, hoping the assets will fetch up to $700 million, according to people …

Source: Reuters

Occidental estimates higher third-quarter production on Permian boost

Source: Reuters


Oil and gas producer Occidental Petroleum nudged its estimate for third-quarter production higher on Tuesday, helped by fewer shutdowns in Colorado’s DJ basin and strong performance in its Permian Resources unit.

The shale producer, which completed the purchase …

Source: Occidental Petroleum

Oxy Lowers Production Guidance on Legacy Anadarko Assets

From The Houston Chronicle


With Occidental Petroleum finalizing its $38 billion acquisition of Anadarko Petroleum last week, Oxy is now lowering its oil and gas production guidance for the legacy Anadarko assets.

For the rest of this year, Oxy said …

Source: Tyler Losier

Occidental Finance Chief Pledges to Act Quickly to Pare Acquisition Debt

From Reuters


Occidental Petroleum Corp (OXY.N) expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday.

Cedric Burgher, in his first public remarks since the …

Source: Occidental Petroleum

Occidental Closes on Anadarko

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum completes its $55 billion takeover of Anadarko Petroleum
Occidental Petroleum Corporation (stock ticker: OXY), led by President and CEO Vicki Hollub, has completed its acquisition of Anadarko Petroleum Corporation

Icahn Enterprises Completes Sale of Brazilian Resource Company

Icahn Enterprises Completes Sale of Brazilian Resource Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million
Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on

Source: Ithaca Energy Limited

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters


Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.

Exxon’s topped analysts’ reduced estimates for the quarter but net …

Source: Royal Dutch Shell

Shell Invests in New Deep-Water Gulf of Mexico Project, Sells Assets to Equinor and Noreco

By Tyler Losier, Energy Reporter, Oil & Gas 360

Shell Offshore Inc. makes final investment decision for PowerNap deep-water project in U.S. Gulf
Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc (stock ticker: RDS-A, RDS-B), has reached a

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

From The Houston Chronicle


Occidental Petroleum reported a $635 million quarterly profit that dipped 25 percent from the year prior, but the focus still remains on Oxy’s $38 billion acquisition of Anadarko Petroleum that could close in August.

Houston-based Oxy …

Source: Occidental Petroleum

Occidental Petroleum Profit Falls on Low Gas Prices, Derivative Contracts

From Reuters


Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to …

Anadarko Petroleum Beats Profit Estimates on Higher Output

Anadarko Petroleum Beats Profit Estimates on Higher Output

From Reuters


Anadarko Petroleum Corp (APC.N), in its last earnings report before shareholders vote on its sale to Occidental Petroleum (OXY.N), on Friday reported a quarterly profit that topped analysts’ estimates, as higher production offset lower prices for its oil.…

ISS Backs Icahn’s Call for More Shareholder Say After Anadarko Deal

ISS Backs Icahn’s Call for More Shareholder Say After Anadarko Deal

From Reuters


Proxy advisory firm Institutional Shareholder Services on Thursday urged Occidental Petroleum Corp shareholders to ask management to let them weigh in on board and governance issues as the company buys rival Anadarko Petroleum Corp..

The request comes one …

How Big is Saudi Aramco?

How Big is Saudi Aramco?

By Tyler Losier, Energy Reporter, Oil & Gas 360


The staggering size of Aramco: Saudi Arabia’s state-owned oil company

In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity …

Source: Occidental Petroleum

Occidental Mails Letter to Shareholders

Occidental Mails Letter to Shareholders

Source: Mach Resources

Private Equity Firm Forms Second Partnership With E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360

Mach Resources and Bayou City Energy form BCE-Mach II LLC, signs two PSAs
Mach Resources, an independent E&P founded in January of 2017, and upstream-focused private equity firm Bayou City Energy,

Source: Occidental Petroleum

New Board Member Joins Occidental

By Tyler Losier, Energy Reporter, Oil & Gas 360

Former BlackRock director Robert M. Shearer elected to OXY board
Occidental Petroleum (stock ticker: OXY), an international E&P with operations in the U.S., the Middle East and Latin America, has elected

Source: NOAA

Intensifying Storm Cut Half U.S. Gulf Coast Oil Output, Closes Coastal Refinery

From Reuters


An intensifying tropical storm in the U.S. Gulf of Mexico on Thursday cut more than half the region’s oil output, with energy companies evacuating staff from nearly 200 offshore facilities and a coastal refinery.

Oil firms shut more …

Source: Templar Energy

Two E&Ps Make Changes in the C-Suite

By Tyler Losier, Energy Reporter, Oil & Gas 360

Penn Virginia CFO to step down
Penn Virginia Corporation (stock ticker: PVAC), a pure-play independent E&P focused on Eagle Ford shale, has announced that Steven A. Hartman, current chief financial officer,

Source: Occidental Petroleum

Occidental Mulls Sale of Anadarko’s Western Stake

From Bloomberg


Adviser helping find buyer for stakes in pipeline operator, Occidental struck $38 billion agreement for Anadarko in May

Occidental Petroleum Corp. is seeking a buyer to take majority control of Western Midstream Partners LP, the pipeline operator that …

Source: Gazprom. LNG Tanker

Anadarko Announces Mozambique LNG Final Investment Decision

Anadarko Announces Mozambique LNG Final Investment Decision

Source: Occidental Petroleum

Occidental Announces Early Termination of Hart-Scott-Rodino Waiting Period

Occidental Announces Early Termination of Hart-Scott-Rodino Waiting Period

Vicki A. Hollub, CEO, Occidental Petroleum

Carl Icahn Sues Occidental for ‘Misguided’ Anadarko Takeover

Rather than plunking down tens of billions of dollars on Anadarko, Icahn argued that Occidental should instead have put itself up for sale

From CNN Business

New York (CNN Business) Billionaire Carl Icahn launched a legal attack on Occidental Petroleum …

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

From S&P Global Platts

Houston — Gulf of Mexico operator Talos Energy may be interested in buying some of Anadarko Petroleum’s deepwater Gulf of Mexico assets that Occidental Petroleum will acquire in its pending $57 billion purchase of that company, …

Jones Energy Logo

Jones Energy Emerges from Bankruptcy with $225 Million Borrowing Base Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360

 

On May 17, Jones Energy, Inc. (stock ticker: JONEQ) emerged from Chapter 11 after satisfying the requirements of the company’s pre-packaged plan.

The announcement came 33 days after the company

Bar Rises for Shale Takeovers as Chevron Bows Out of Anadarko Fight

Bar Rises for Shale Takeovers as Chevron Bows Out of Anadarko Fight

From Reuters

Chevron Chief Executive Michael Wirth’s decision to opt out of a bidding war for Anadarko Petroleum Corp has raised the bar for deals, and dampened expectations that oil majors will drive a new wave of consolidation in U.S. …

Chevron Takes the Money and Runs

Chevron Takes the Money and Runs

$1 billion breakup fee makes easy payday for Chevron shareholders
By Richard Rostad, analyst, Oil & Gas 360

Chevron (ticker: CVX) announced today it will concede to Occidental (ticker: OXY) in the bidding war for Anadarko (ticker: APC).

While Chevron

How Total’s CEO Pounced on Anadarko’s African Energy Assets

How Total’s CEO Pounced on Anadarko’s African Energy Assets

From Reuters

It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko.…

Anadarko, Mozambique expect FID Announcement for Mozambique LNG Project on June 18

Anadarko, Mozambique expect FID Announcement for Mozambique LNG Project on June 18

Offshore Area 1: 75 Tcf await liquefaction, sales

The president of Mozambique met with Anadarko CEO Al Walker Tuesday and announced plans for Mozambique LNG to announce the final investment decision (FID) during a celebratory event on June 18, 2019 …

Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

Anadarko Accepts Occidental Bid; Chevron May Now Respond

From Bloomberg

Anadarko Petroleum Corp.’s board has declared Occidental Petroleum Corp.’s sweetened $38 billion takeover “superior,” giving Chevron Corp. until May 10 to either boost its offer or walk away from the oil industry’s biggest deal in at least four …