Post Tagged with: "Occidental Petroleum"

Source: Reuters

Occidental looks to raise cash, swap debt as oil prices pressure finances

Reuters


HOUSTON – Occidental Petroleum Corp (OXY.N) said on Wednesday it was looking to raise new cash or swap debt for stock, a day after it posted a large first-quarter loss, sending its stock down 7%.

 

Shares …

Source: Reuters

Half of announced North American oil cuts come from just three companies

Reuters


Numerous U.S. and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies – Chevron, ConocoPhillips and Occidental Petroleum – account for more than …

Source: Reuters

Occidental names former CEO Stephen Chazen as non-executive chair

Reuters


Occidental Petroleum Corp (OXY.N) on Tuesday named its former chief executive officer, Stephen Chazen, as non-executive chairman of its board in a bid to end a long and bitter fight with activist investor Carl Icahn.

WSJ had …

Source: Houston Chronicle

Occidental, Icahn may be near deal to end boardroom battle

Houston Chronicle


Activist investor Carl Icahn is nearing a truce with Occidental Petroleum Corp. that will see three new directors appointed to the oil company’s board, according to people familiar with the matter.

The deal would also see the billionaire …

Source: Houston Chronicle

Occidental deploys poison pill amid Icahn push to oust board

Houston Chronicle


Occidental Petroleum Corp. implemented a so-called poison pill plan to defend against unsolicited takeover approaches just a day after activist investor Carl Icahn escalated his campaign to fire the beleaguered U.S. oil producer’s board.

Such measures are usually …

The real price of Occidental’s ‘costless’ oil hedge

The real price of Occidental’s ‘costless’ oil hedge

Reuters


In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterized the transaction as “costless” but a Reuters review of regulatory filings, market …

Source: Houston Chronicle

Carl Icahn to seek control of Occidental’s board

Houston Chronicle


Carl Icahn plans to nominate a slate of 10 directors in an attempt to seize control of the board of U.S. oil and gas producer Occidental Petroleum Corp., according to people familiar with the matter.

The billionaire investor, …

Source: nasdaq.com

U.S. oil producers to slash spending for second straight year in 2020

Reuters


U.S. energy producers plan to slash spending for a second straight year in 2020 as companies struggle to extract profits from the U.S. shale boom.

While U.S. crude output hit a record 13 million barrels per day (bpd) this …

Source: Houston Chronicle

Icahn says Occidental won’t hit target without ‘fire sale’

Houston Chronicle


Activist investor Carl Icahn said Occidental Petroleum Corp.’s new target for assets sales won’t be achieved without a “fire sale” that includes its pipeline system, Western Midstream Partners LP, which was already shopped to potential buyers earlier this …

Source: PR Newswire

Ecopetrol and Occidental complete investment agreement in the US Permian Basin

BOGOTÁ, ColombiaNov. 13, 2019 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“the Company”) informs that today it completed the joint venture transaction announced last July 31, 2019.  Through this deal, the Company and Occidental Petroleum Corp (NYSE: …

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 …

Photo: KARSTEN MORAN, STR

Icahn reduces Oxy stake, vows to carry on proxy war

Houston Chronicle


Famed corporate activist Carl Icahn said he reduced his ownership stake in Occidental Petroleum by nearly one-third, but he vowed to continue to wage his proxy war against the company stemming from his opposition to Oxy’s $38 billion …

Vicki Hollub, chief executive officer of Occidental Petroleum Corp.
Photo: Kyle Grillot, Bloomberg / Bloomberg

Occidental vows to slash spending after Anadarko hits earnings

Houston Chronicle


Occidental Petroleum Corp. pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko Petroleum Corp.

Shale drilling in the U.S. Permian …

Photo: John Davenport, STAFF / San Antonio Express-News

Oxy starts first solar farm to power oil production

Source: Houston Chronicle


Occidental Petroleum opened the first solar farm to directly power its oil and gas operations.

Houston-based Oxy said the Goldsmith solar farm will provide the electricity to power its enhanced oil recovery operations in West Texas’ Permian …

Source: ExxonMobil

ExxonMobil Partners with Carbon Capture Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

ExxonMobil partners with Mosaic Materials in order to pursue carbon capture technology
ExxonMobil (stock ticker: XOM), an international oil and gas supermajor, has partnered with Mosaic Materials, a chemicals and engineering

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters


Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an …

August 20, 2019 - 6:01 am Closing Bell Story‎, Crude Oil News, Energy News, Midstream
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 …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

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 …

Source: Occidental Petroleum

Occidental Mails Letter to Shareholders

Occidental Mails Letter to Shareholders

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

Hedge Funds Track Private Jets to Find the Next Mega-Deal 

Hedge Funds Track Private Jets to Find the Next Mega-Deal 

Where there’s a plane, there’s a data trail

From Bloomberg

If you have a meeting with Warren Buffett in Omaha and you want to keep it a secret, consider driving. The airports are being watched.

In April, a stock research …

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 …