Occidental Petroleum (Oxy) Archives - Page 10 of 10

Former OXY Heavyweights Steve Chazen and Chris Stavros Join Forces in $2.7-Billion SPAC Deal

March 20, 2018

TPG Pace Energy acquires EnerVest’s South Texas Division in $2.66 billion handshake; forms new public company – Eagle Ford, Austin Chalk pure-play – Magnolia Oil & Gas Corp. TPG Pace Energy Holdings Corp. (ticker: TPGE), an energy-focused special purpose acquisition entity led by former Occidental Petroleum Corporation CEO Steve Chazen, has entered into definitive agreements with funds managed by EnerVest,

Occidental Petroleum Averaged 621 MBOEPD in Q4

February 14, 2018

Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017. Core income for the fourth quarter of 2017 was $313 million, or $0.41 per diluted share, compared with $137 million, or $0.18 per diluted

Occidental Using the Permian as a Yard-Stick for International Returns

November 4, 2016

Oxy has invested $2 billion in the Permian Occidental Petroleum (ticker: OXY) announced Monday ahead of its third-quarter earnings call that the company acquired producing and non-producing leasehold acreage in the Permian Basin from private sellers for approximately $2 billion. During OXY’s conference call today, it became clear that the company plans to use its Permian acreage as the benchmark

Occidental Can Realize “the Same Amount of Productivity with Half the Rigs” – In the Permian

August 4, 2016

Occidental looks to add 2 rigs to the Permian in 2017 Occidental Petroleum (ticker: OXY) announced its second quarter results this week, reporting quarter-end cash balance of $3.8 billion, and Permian Resources production of 126 MBOEPD, up 16% year-over-year. OXY’s total company production increased to 609 MBOEPD due in large part to production in Abu Dhabi and Oman, but the Permian

Occidental Petroleum Names Vicki A. Hollub Chief Executive Officer

April 29, 2016

HOUSTON–(BUSINESS WIRE)–Occidental Petroleum Corporation (NYSE: OXY) announced today that its Board of Directors has named Vicki A. Hollub the company’s President and Chief Executive Officer, completing the previously disclosed succession plan. Ms. Hollub succeeds Stephen I. Chazen, who stepped down as CEO following the company’s annual shareholder meeting. Ms. Hollub was elected to the Board of Directors in December 2015.

Private Equity Group Snatches Occidental’s Bakken Assets for $500 Million: Reuters

October 16, 2015

Reuters reports that Occidental Petroleum (ticker: OXY) is leaving the Williston Basin, announcing a $500 million sale with Lime Rock Resources for its 303,000 net acres. The deal, if finalized, equates to just $1,650 per net acre, roughly half of Capital One Securities’ estimated value of approximately $3,300 per net acre. Other agencies believed the region held roughly $3.0 billion

Occidental Agrees to Two Year $500 Million Exploration Project in Abu Dhabi

February 16, 2015

Occidental will have a 30% share in an offshore exploration deal in Abu Dhabi Occidental Petroleum (ticker: OXY) has agreed to a $500 million, two year offshore exploration deal in Abu Dhabi. OXY was one of eleven international oil companies invited to bid for rights to develop Abu Dhabi’s assets in 2012, reports Bloomberg. Occidental will work with state-owned Abu

Oxy Could Net $3 Billion from Bakken Divestiture, Readies Spin Off of California O&G Operations

October 7, 2014

Middle East and North Africa also on the Block Multiple divestitures appear to be coming for Occidental Petroleum (ticker: OXY), the $75 billion (market cap) diversified oil company. In June the company filed a Registration Statement with the SEC to spin off its California oil and gas assets into a separate company called California Resources Corporation. At the same time

California Governor Giving Science a Chance

October 30, 2013

Jerry Brown, the Democratic Governor of California, signed a bill on September 11, 2013, enacting strict measures on hydraulic fracturing in the state. The bill, which he describes as “the most comprehensive of any in the country,” requires drilling companies to extensively disclosure fracing materials and processes. Known as SB 4, requirements will go into effect on January 1, 2015.

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