Occidental Petroleum (Oxy) – Page 5

Court tosses Carl Icahn’s lawsuit seeking Occidental acquisition records

November 15, 2019

Reuters HOUSTON (Reuters) – Activist investor Carl Icahn will not have access to Occidental Petroleum Corp’s Anadarko takeover records to support his proxy fight against the oil firm’s board, a Delaware court judge ruled on Thursday. Icahn sued Occidental in Delaware Court of Chancery last May seeking financial records and details of its negotiations with Anadarko. He has since committed

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

November 15, 2019

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 month, U.S. oil companies have struggled to deliver consistent profits. That is in part due to their success – higher

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

November 14, 2019

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 year. Occidental’s Chief Executive Officer Vicki Hollub said Wednesday in a statement she was “highly confident” the company will exceed

Occidental reports continued momentum executing against key strategic and financial initiatives

November 14, 2019

Nov. 13, 2019 /PRNewswire/- (“Occidental” or “the Company”) (NYSE: OXY) today, provided an update on its speed and momentum executing against key strategic and financial initiatives designed to maximize shareholder value following the close of its acquisition of Anadarko Petroleum (“Anadarko”) on August 8, 2019. Occidental’s incremental progress following third-quarter earnings includes: Ecopetrol Joint Venture: Occidental has completed the transaction to

Ecopetrol and Occidental complete investment agreement in the US Permian Basin

November 14, 2019

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: OXY) agreed to form a strategic alliance or Joint Venture (“JV”) for the development of unconventional reservoirs in approximately 97,000 acres of the Permian Basin in the State of Texas (US). For these purposes, Ecopetrol Permian

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

November 11, 2019

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 familiar with the matter. Occidental offered about 200,000 acres in the Denver-Julesburg Basin of Wyoming and Colorado that produce $66

Icahn reduces Oxy stake, vows to carry on proxy war

November 11, 2019

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 acquisition of Anadarko Petroleum. Famed corporate activist Carl Icahn said he reduced his ownership stake in Occidental Petroleum by nearly

Occidental vows to slash spending after Anadarko hits earnings

November 5, 2019

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 Basin will account for the biggest chunk of cuts as the company merges duplicate operations. Still, overall output will increase

https://www.chron.com/business/energy/article/Drilling-Down-Houston-company-makes-big-push-in-14548499.php?cmpid=ffcp-oag360

Drilling Down: Houston company makes big push in Spraberry play

October 21, 2019

Houston Chronicle Houston oil company Birch Resources is planning a big push in the Permian Basin’s prolific Spraberry field. The company is seeking permission from the Railroad Commission of Texas to develop 19 horizontal wells targeting the Spraberry at total depths ranging from 7,600 to 9,1000 feet. The project is located on the company’s Big Jay leases about 7 miles southeast of

Occidental estimates higher third-quarter production on Permian boost

October 15, 2019

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 of rival Anadarko Petroleum in August, now expects production from continuing operations to be 1.1 million to 1.12 million barrels

Oxy starts first solar farm to power oil production

October 8, 2019

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 Basin. “Occidental is taking an important step toward realizing our aspiration to become carbon neutral through the use of emissions-free

ExxonMobil Partners with Carbon Capture Company

August 26, 2019

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 company, in order to explore and advance technology that can be used to remove carbon dioxide from emissions sources. The

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