Post Tagged with: "Occidental"

Source: Reuters

Occidental to slash Western Midstream interest below 50%

Reuters


Oil and gas producer Occidental Petroleum Corp said on Monday it would reduce its economic interest in pipeline operator Western Midstream Partners Lp to less than 50% in 2020.

Occidental said it had reached agreements with Western, acquired in …

Source: ExxonMobil

ExxonMobil Partners with Carbon Capture Company

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

Enerflex Appoints New CFO, General Counsel

Enerflex Appoints New CFO, General Counsel

By Tyler Losier, Energy Reporter, Oil & Gas 360

Enerflex names Sanjay Bishnoi as senior vice president and CFO, David Izett as senior vice president and general counsel
Enerflex Ltd. (stock ticker: ENRFF), a Calgary-based oilfield service company, has appointed

Source: Occidental Petroleum

Oxy Lowers Production Guidance on Legacy Anadarko Assets

From The Houston Chronicle


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 …

Source: Tyler Losier

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 …

Source: Occidental Petroleum

Occidental Closes on Anadarko

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum completes its $55 billion takeover of Anadarko Petroleum
Occidental Petroleum Corporation (stock ticker: OXY), led by President and CEO Vicki Hollub, has completed its acquisition of Anadarko Petroleum Corporation

Icahn Enterprises Completes Sale of Brazilian Resource Company

Icahn Enterprises Completes Sale of Brazilian Resource Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million
Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on

Source: Ithaca Energy Limited

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 …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

From The Houston Chronicle


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 …

Source: Occidental Petroleum

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 …

Texas Shale Pioneers Struggle to Appease Investors

Texas Shale Pioneers Struggle to Appease Investors

From Reuters


Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.

Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing …

Anadarko Petroleum Beats Profit Estimates on Higher Output

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.…

Permian Producers May Need to Spend More or Consider Mergers

Permian Producers May Need to Spend More or Consider Mergers

From The Houston Chronicle


As the sweet spots of the booming Permian Basin are drilled, oil companies will need to either spend more money or consider mergers and acquisitions to keep up their crude production volumes, according to the energy …

ISS Backs Icahn’s Call for More Shareholder Say After Anadarko Deal

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 …

How Big is Saudi Aramco?

How Big is Saudi Aramco?

By Tyler Losier, Energy Reporter, Oil & Gas 360


The staggering size of Aramco: Saudi Arabia’s state-owned oil company

In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity …

Source: Occidental Petroleum

Occidental Mails Letter to Shareholders

Occidental Mails Letter to Shareholders

Source: Occidental Petroleum

Occidental Announces Early Termination of Hart-Scott-Rodino Waiting Period

Occidental Announces Early Termination of Hart-Scott-Rodino Waiting Period

Vicki A. Hollub, CEO, Occidental Petroleum

Carl Icahn Sues Occidental for ‘Misguided’ Anadarko Takeover

Rather than plunking down tens of billions of dollars on Anadarko, Icahn argued that Occidental should instead have put itself up for sale

From CNN Business

New York (CNN Business) Billionaire Carl Icahn launched a legal attack on Occidental Petroleum …

Buffett’s Betting on Oil, and He’s Rarely Wrong

Buffett’s Betting on Oil, and He’s Rarely Wrong

From ForbesGeorge Schultze

I’ve long been a believer that there’s always opportunity in the energy field, if you know where to look for it. With his recent commitment of $10 BN to help Occidental acquire Anadarko, Warren Buffett …

Chevron Takes the Money and Runs

Chevron Takes the Money and Runs

$1 billion breakup fee makes easy payday for Chevron shareholders
By Richard Rostad, analyst, Oil & Gas 360

Chevron (ticker: CVX) announced today it will concede to Occidental (ticker: OXY) in the bidding war for Anadarko (ticker: APC).

While Chevron

Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

Anadarko Accepts Occidental Bid; Chevron May Now Respond

From Bloomberg

Anadarko Petroleum Corp.’s board has declared Occidental Petroleum Corp.’s sweetened $38 billion takeover “superior,” giving Chevron Corp. until May 10 to either boost its offer or walk away from the oil industry’s biggest deal in at least four …

Vicki A. Hollub, CEO, Occidental Petroleum

Occidental CEO on Verge of Outmuscling a Rival Five Times as Big

From Bloomberg

Occidental Petroleum Corp. Chief Executive Officer Vicki Hollub is on the cusp of winning a David versus Goliath bidding war that has captivated the oil industry.

After making a series of approaches to rival Anadarko Petroleum Corp. about …

May 7, 2019 - 5:32 pm Closing Bell Story‎, Crude Oil News, Energy News
Occidental Says Anadarko’s Fleet of Corporate Jets Has Got to Go

Occidental Says Anadarko’s Fleet of Corporate Jets Has Got to Go

From Bloomberg

Anadarko Petroleum Corp.’s fleet of corporate jets is high on Occidental Petroleum Corp.’s list of things to sell if its takeover bid for the shale explorer succeeds.

Occidental executives racked up more than 11,000 miles (17,700 …

May 7, 2019 - 5:16 pm Closing Bell Story‎, Energy News
Anadarko Faces Investor Pressure to Explain Occidental Snub

Anadarko Faces Investor Pressure to Explain Occidental Snub

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 …

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

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

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 …

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

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

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 …

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

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

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 …

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

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

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 …

February 16, 2015 - 6:51 pm International, Offshore, Oil and Gas 360 Articles