Occidental Petroleum (Oxy) Archives - Page 9 of 10

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Berkshire To Make $10 Billion Investment In Occidental To Finance Anadarko Bid

April 30, 2019

From The Wall Street Journal Warren Buffett’s Berkshire Hathaway Inc. agreed to inject $10 billion into Occidental Petroleum Corp.’s bid to acquire Anadarko Petroleum Corp. and fight off Chevron Corp. Last week, Houston-based Occidental offered to purchase Anadarko for $38 billion, topping the $33 billion that Chevron agreed to pay for the company. The two sides are battling over prized energy assets in the heart of the U.S. oil boom in

anadarko-600w Chevron, Anadarko Megadeal Portends Billions in Asset Divestment - Oil & Gas 360

Anadarko Board to Consider Occidental Bid

April 29, 2019

From Bloomberg Anadarko Petroleum Corp. plans to resume talks about a potential $38 billion takeover by Occidental Petroleum Corp., a move that threatens to scupper a previously agreed deal with Chevron Corp. In a unanimous decision, Anadarko’s board of directors determined the Occidental bid “could reasonably be expected to result in a superior proposal,” the company said in a statement Monday. It added

Anadarko Faces Investor Pressure to Explain Occidental Snub

April 26, 2019

From Bloomberg Anadarko Petroleum Corp. is under pressure from investors to explain why it agreed to a takeover offer from Chevron Corp. despite it being substantially lower than Occidental Petroleum Corp.’s $38 billion proposal. Occidental went public with its offer Wednesday and said it was essentially the same one made in January last year. Yet despite several further offers from Occidental as recently as

Occidental May Lack Size But It’s Never Lacked Ambition

April 25, 2019

From Bloomberg Occidental Petroleum Corp.’s $38 billion bid for Anadarko Petroleum Corp. is one of the boldest moves in the 99-year history of a company that has never lacked ambition. While being meet with skepticism from analysts — who have called the bid “ill-advised” and “a very bad idea” — the proposal shows the appetite of Chief Executive Officer Vicki

Disruption: Oxy Launches $57-Billion Salvo in Bidding War for Anadarko

April 24, 2019

Offers on the table: $76 per share from Oxy vs $65 from Chevron By Richard Rostad, analyst, Oil & Gas 360 Dear Anadarko Board: It is unfortunate that you agreed to pay a breakup fee of $1 billion, representing approximately $2 per share, without even picking up the phone to speak to us after we made two proposals during the

Oil and Gas Funding is Evolving: An Oil & Gas 360® Special Report

April 16, 2019

For now, Wall Street has turned off the shale funding spigot By Bevo Beaven, Editor, Oil & Gas 360, with Richard Rostad, Analyst Oil and gas funding is evolving. Initial public offerings, secondaries and follow-on equity raises are no longer an easy-to-turn-on cash spigot that sits ready to fill the bank accounts of public exploration and production (E&P) companies with

Occidental Bid More Than $70 A Share For Anadarko And Is Now Considering Options: CNBC

April 12, 2019

From CNBC There was another bid for Anadarko Petroleum, the oil and gas explorer which Chevron said it was buying for $65 a share in cash and stock on Friday. Occidental Petroleum bid more than $70 a share for Anadarko in cash and stock earlier, people familiar with the situation told CNBC, but the company ultimately decided to go with Chevron. In addition to being higher,

Like fine whisky, Texan oil exporters tout unblended crude - oil and gas 360

Occidental Emerges as Heavy Hitter in U.S. Oil Export Boom

March 11, 2019

From Reuters Occidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market now worth more than $150 million every day. It is showing no signs of slowing down, with plans to double crude exports by 2020. In 2017, Occidental was the largest exporter from the

Oxy: We’re Not Trying to Outpace the Majors, We’re Trying to Outperform Them

February 13, 2019

Eighth quarterly profit in a row By Richard Rostad, analyst, Oil & Gas 360 Occidental Petroleum (ticker: OXY) reported Q4 results and reserves today, showing $706 million in net income, or $0.93 per share. Oxy earned a total of $4.1 billion in 2018, significantly improved from the $1.3 billion the company earned in 2017. This quarter marks the eighth consecutive

TPG Pace Energy Holdings Closes $2.6 Billion Merger

August 3, 2018

Steve Chazen up and running in the Eagle Ford, Austin Chalk Steve Chazen’s newly formed company, Magnolia Oil & Gas, is up and running, its stock trading on the NYSE under ticker MSY. Magnolia came out of TPG Pace Energy Holdings Corp. (NYSE: TPGE) merger with EnerVest, Ltd.’s South Texas Division for $2.66 billion. The deal closed July 31. The

Occidental Looks to Sell $5 Billion in Pipeline Assets: Reuters

July 24, 2018

From Reuters Occidental Petroleum Corp (OXY.N) is exploring a sale of its pipeline assets, hoping to fetch more than $5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter said on Tuesday. The Occidental Petroleum Corp headquarters is pictured in Los Angeles, California September 16, 2013. REUTERS/Mario Anzuoni Occidental’s

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

May 9, 2018

Occidental Petroleum Corporation (ticker: OXY) reported a core income of $708 million for the first quarter of 2018, or $0.92 per diluted share. Total average daily production volumes were 609,000 BOE for the first quarter of 2018, compared to 621,000 BOE in the fourth quarter of 2017. Permian average daily production volumes improved from the prior quarter by 18,000 BOE,

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