Post Tagged with: "oxy"

Source: Reuters

Berkshire Hathaway to accept Occidental shares instead of cash dividends

Reuters


Occidental Petroleum said on Wednesday billionaire Warren Buffett’s Berkshire Hathaway Inc had agreed to accept common shares of the oil producer instead of cash dividends for preferred stock.

Berkshire last year bought $10 billion worth of Occidental’s preferred shares …

Source: Houston Chronicle

Oxy enacts pay cuts amid deeper budget cuts

Houston Chronicle


Houston exploration and production company Occidental Petroleum is enacting across pay cuts after making a second round of budget cuts as crude oil prices remain stuck at record lows.

Occidental plans to cut $2.5 billion from its capital …

Source: Reuters

Occidental Provides Update on Capital Spending and Cost Reductions

HOUSTONMarch 25, 2020 /PRNewswire/ — Occidental Petroleum Corporation (NYSE: OXY) announced today a further reduction in 2020 capital spending to between $2.7 billion and $2.9 billion from its original 2020 guidance of $5.2 billion to $5.4 billion, …

Source: Houston Chronicle

Occidental Petroleum reports $965 million loss in 2019

Houston Chronicle


Costs related to Occidental Petroleum’s acquisition of Anadarko Petroleum last year drove losses for the Houston oil and gas producer in 2019, the company said Friday.

Oxy said it lost $965 million or $1.22 per share in 2019, …

Source: Houston Chronicle

Oxy shores up board with former Schlumberger CEO

Houston Chronicle


Occidental Petroleum added to its board of directors Thursday with the appointment of a former chief executive of Schlumberger as Oxy aims to instill more confidence with shareholders after risking its future to buy Anadarko Petroleum for $38 billion …

January 2, 2020 - 12:00 pm Closing Bell Story‎, Energy News, People
Source: Reuters/Brendan McDermid

Court tosses Carl Icahn’s lawsuit seeking Occidental acquisition records

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 …

Occidental reports continued momentum executing against key strategic and financial initiatives

Occidental reports continued momentum executing against key strategic and financial initiatives

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 …

Source: Houston Chronicle/ Jon Shapley

Drilling Down: Houston company makes big push in Spraberry play

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 …

Source: Reuters

Occidental estimates higher third-quarter production on Permian boost

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 …

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 …

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

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.…

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

New Board Member Joins Occidental

By Tyler Losier, Energy Reporter, Oil & Gas 360

Former BlackRock director Robert M. Shearer elected to OXY board
Occidental Petroleum (stock ticker: OXY), an international E&P with operations in the U.S., the Middle East and Latin America, has elected

Source: Occidental Petroleum

Occidental Mulls Sale of Anadarko’s Western Stake

From Bloomberg


Adviser helping find buyer for stakes in pipeline operator, Occidental struck $38 billion agreement for Anadarko in May

Occidental Petroleum Corp. is seeking a buyer to take majority control of Western Midstream Partners LP, the pipeline operator that …

Source: Occidental Petroleum

Occidental Petroleum CFO Cedric Burgher to be Keynote Speaker on Day One of The Oil & Gas Conference® 2019

EnerCom conference presenter schedule is posted

By Bevo Beaven, Editor, Oil & Gas 360

EnerCom said that Senior Vice President and Chief Financial Officer of Occidental Petroleum (NYSE: OXY) Cedric Burgher will deliver the luncheon keynote address on Monday, …

Continental Petroleum Chairman Harold Hamm to Keynote EnerCom’s The Oil & Gas Conference® Tues. Aug. 13, 2019

Continental Petroleum Chairman Harold Hamm to Keynote EnerCom’s The Oil & Gas Conference® Tues. Aug. 13, 2019

Occidental Petroleum (NYSE: OXY) CFO Cedric Burgher will give the EnerCom luncheon keynote address on Monday, Aug. 12. 

EnerCom said that legendary oilman Harold G. Hamm, chairman and CEO of Continental Resources (NYSE: CLR), will take the stage for a …

Oxy-Anadarko Saga Accelerates

Oxy-Anadarko Saga Accelerates

“We remain perplexed at your apparent resistance to obtaining far more value for Anadarko shareholders” – Oxy CEO Hollub
On earnings call, Hollub calls Anadarko "a generational opportunity"
By Richard Rostad, analyst, Oil & Gas 360

Occidental Petroleum (stock ticker:

What Chevron Stands to Lose If Occidental Wins Bidding War for Anadarko

What Chevron Stands to Lose If Occidental Wins Bidding War for Anadarko

From CNBC

Chevron’s leaders insist the company’s fortunes don’t rely on dealmaking, but the oil major nevertheless has much to lose if it does not prevail in an ongoing battle with Occidental Petroleum to take control of Anadarko

Occidental, Chevron Aren’t the Only Deal-Hungry Oil Drillers

Occidental, Chevron Aren’t the Only Deal-Hungry Oil Drillers

From The Wall Street Journal

Occidental Petroleum isn’t alone.

The Houston-based oil driller dug deep to outbid Chevron for rival Anadarko Petroleum by taking an expensive check from Warren Buffett’s Berkshire Hathaway. Others are on the hunt for assets …

May 3, 2019 - 5:32 pm Closing Bell Story‎, Crude Oil News, Energy News
Berkshire To Make $10 Billion Investment In Occidental To Finance Anadarko Bid

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

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 …

Anadarko Board to Consider Occidental Bid

Anadarko Board to Consider Occidental Bid

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 …

Occidental May Lack Size But It’s Never Lacked Ambition

Occidental May Lack Size But It’s Never Lacked Ambition

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 …