Occidental Petroleum Corp said on Thursday it would sell some of its acreage in Texas’ Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for $508 million.
The oil producer has cut jobs, production and …
A recovery in the price of oil to more than two-year highs is offering a long-awaited opening to companies and private equity firms to shed unloved assets in the U.S. oil patch.
Sales of land parcels worth $6.9 billion …
Occidental Petroleum Corp, Diamondback Energy Inc and a host of smaller Permian-focused U.S. shale producers on Monday forecast lower oil output in the first quarter, giving the first indications of the hit to the industry caused by last week’s …
Occidental Petroleum expects oil and gas output to dip in the second half of the year and will not boost production until it “significantly” reduces debt, Chief Executive Vicki Hollub said on Tuesday.
The company has been struggling with …
CNBC
Sixteen of the world’s leading energy executives met virtually at an unprecedented meeting Tuesday night to talk about how big oil will navigate its biggest crisis in recent history while confronting the coronavirus pandemic.
“Each one of us …
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 …
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 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 …
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 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, …
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 …
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 …
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: …
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 …
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 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 …
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 …
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 …
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 …
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 …
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 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 …
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 …
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.…
