Post Tagged with: "Occidental Petroleum"
Half of announced North American oil cuts come from just three companies
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 …
Occidental, Icahn may be near deal to end boardroom battle
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 …
Occidental deploys poison pill amid Icahn push to oust board
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
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 …
Carl Icahn to seek control of Occidental’s board
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, …
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 …
Icahn says Occidental won’t hit target without ‘fire sale’
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 …
Ecopetrol and Occidental complete investment agreement in the US Permian Basin
BOGOTÁ, Colombia, Nov. 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
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 …
Icahn reduces Oxy stake, vows to carry on proxy war
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 …
Occidental vows to slash spending after Anadarko hits earnings
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 …
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 …
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 …
Oxy Lowers Production Guidance on Legacy Anadarko Assets
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 …
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 …
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 …
Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8
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 …
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
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
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 …
Occidental Mails Letter to Shareholders
Occidental Mails Letter to Shareholders
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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 …
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 …
