Stung by the untimely and expensive takeover of Anadarko Petroleum Corp. in 2019, debt-laden Occidental Petroleum Corp. (Oxy) is working to right itself after taking a battering in the first three months, joining other Permian Basin-heavy operators in reducing activity in reaction to plummeting demand.
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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.
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.
A subsidiary of Royal Dutch Shell plc has acquired a 50% operating stake in three ultra-deepwater natural gas blocks from Colombian national oil company Ecopetrol SA, the companies said Friday.
Houston independent Occidental Petroleum Corp., working to improve shareholder confidence after sharply increasing its debt load with the Anadarko Petroleum Corp. takeover, has executed several agreements to enable Western Midstream Partners LP (WES) to operate as an independent company.
Houston-based Occidental Petroleum Corp. said its third quarter production, including combined output from Anadarko Petroleum Corp., is expected to average 1.310-1.369 million boe/d, versus initial guidance of 1.062-1.102 million boe/d.
Houston-based Occidental Petroleum Corp. on Thursday completed its mega tie-up with Anadarko Petroleum Corp. in a transaction including debt now valued at $55 billion.
Anadarko Petroleum Corp., in a quiet period ahead of a vote to merge with Occidental Petroleum Corp., said higher production offset lower commodity prices, with year/year natural gas, oil and liquids volumes climbing overall by almost 17% during the second quarter, exceeding analyst expectations.
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.
Houston-based Occidental Petroleum Corp. late Thursday snagged a definitive agreement to acquire Anadarko Petroleum Corp., ending a month-long saga that led Chevron Corp. with withdraw.