Hollub

The Occidental Petroleum Corp. (Oxy) board on Friday adopted a limited duration stockholders rights plan, known commonly as a “poison pill,” in an effort to dilute activist billionaire shareholder Carl Icahn’s growing stake in the Houston-based independent.

Billionaire investor Carl Icahn, who is seeking to usurp four directors at Occidental Petroleum Corp., is alleging the board has mismanaged the takeover of Anadarko Petroleum Corp.

Occidental Petroleum Corp. (Oxy), in a battle with Chevron Corp. to buy Anadarko Petroleum Corp., said Monday it exceeded the high end of production guidance during the first quarter as output from its No. 1 target, the Permian Basin, continued to climb.

Occidental Petroleum Corp. (Oxy) expects to recoup an extra $5 billion this year through outperformance from assets as well as midstream sales, giving it more than $1 billion to add to capital expenditures (capex), in part to be used in the Permian Basin, the Houston-based producer said Thursday.

Back in the black and confident its refocused operations will stay there with a Permian Basin emphasis, Occidental Petroleum Corp. (Oxy) on Thursday detailed its deployment of various analytics to get better results out of reconfigured reserves following the sale of its South Texas assets.

Houston-based Occidental Petroleum Corp. (Oxy) continues to double down on the Permian Basin as its designated growth engine, along with certain overseas plays, Oxy executives said Thursday.

Houston-based Occidental Petroleum Corp. (Oxy) senior executives have chosen to stay focused on their game plan and the company’s brightest star, the Permian Basin in West Texas and New Mexico.

Houston-based Occidental Petroleum Corp. (Oxy) senior executives have chosen to stay focused on their game plan and the company’s brightest star, the Permian Basin in West Texas and New Mexico.

Houston-based Occidental Petroleum Corp. (Oxy) board of directors on Friday named Vicki Hollub CEO of the company as was previously announced as part of the exploration/production company’s succession plan (see Daily GPI,Dec. 10, 2015). Named a director on the board in December, the 35-year Oxy veteran Hollub succeeds Stephen Chazen, who stepped down as CEO at Oxy’s annual shareholder meeting. Hollub had been named president/COO last year and the successor to Chazen when he retired.