In concessions to activist shareholder Carl Icahn, Houston-based independent Occidental Petroleum Corp. (Oxy) has named Magnolia Oil and Gas Corp. CEO Stephen Chazen as chairman and appointed three Icahn-picked directors to the board.
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In Concession to Icahn, Oxy Taps Former Chief Chazen as Chair
Houston-based independent Occidental Petroleum Corp. (Oxy) said Tuesday it has named Magnolia Oil and Gas Corp. CEO Stephen Chazen as chairman in an apparent concession to activist shareholder Carl Icahn.
Magnolia Grabs More Eagle Ford Property in Deal with Harvest
Magnolia Oil & Gas Corp. on Tuesday agreed to buy nearly all of Harvest Oil & Gas Corp.’s South Texas assets in a cash-and-stock deal, a package of properties that CEO Steve Chazen called “a natural fit” for the new Eagle Ford Shale pure-play.
South Texas Giddings Field Results Above Expectations, Says Chazen
Houston-based TPG Pace Energy Holdings Corp., an energy-focused special purpose acquisition entity led by former Occidental Petroleum Corp. CEO Steve Chazen, on Tuesday said first quarter production from the Giddings field in South Texas exceeded forecasts.
Oxy’s Former Chief Chazen to Lead Yet Another Energy-Focused Blank Check Company
Another blank check company created to acquire an energy business is preparing for its public debut and another esteemed, retired oil and natural gas executive has been tapped to oversee it.
Oxy Completes Spin-Off of California Operations
Occidental Petroleum Corp.’s (Oxy) spin-off of its California operations, California Resources Corp. (CRC), was completed Monday as the new company began trading on the New York Stock Exchange.
Bakken, Piceance Assets Likely to Be Sold, Oxy CEO Says
Occidental Petroleum Corp. (Oxy), which soon will spin off its California assets into a new company, currently has more of a sales mindset, but if oil prices continue to decline it could quickly switch to a buying mode regarding U.S. domestic assets, particularly in the Permian Basin, CEO Stephen Chazen said Thursday on a 3Q2014 earnings conference call.
Oxy Puts More Emphasis on Permian as California Splits Off
Reporting lower year-over-year 3Q2014 profits tied to lower oil prices and higher costs, Occidental Petroleum Corp. (Oxy) senior executives expressed bullishness Thursday about their slimmed down company’s future, emphasizing the huge growth potential they see in unconventional plays in the revitalized Permian Basin.
Oxy in 2013 Boosts Reserves, Permian and California
Ending last year at an all-time high for booked reserves at 3.5 billion bbl, Los Angeles-based Occidental Petroleum Corp. (Oxy) plans to continue to increase its oil production in the Permian Basin and California this year, boosting overall capital spending to $10.2 billion, compared to $8.8 billion in 2013, according to Oxy CEO Stephen Chazen.