Occidental

Permian-Focused Shut-ins Mount, as Oxy, Region’s E&Ps Slice Completions, Production

Permian-Focused Shut-ins Mount, as Oxy, Region’s E&Ps Slice Completions, Production

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.

May 6, 2020
Icahn Cements Control at Oxy through Board Appointments

Icahn Cements Control at Oxy through Board Appointments

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.

March 25, 2020
In Concession to Icahn, Oxy Taps Former Chief Chazen as Chair

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.

March 24, 2020
Shell, Ecopetrol Form Deepwater Natural Gas Alliance Offshore Colombia

Shell, Ecopetrol Form Deepwater Natural Gas Alliance Offshore Colombia

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.

February 13, 2020

Occidental Casting Off Anadarko’s Legacy Western Midstream Partnership

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.

January 6, 2020

Occidental Forecasting Lower 48 3Q Oil, Gas Output 3% Above Guidance

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.

October 15, 2019
Occidental Completes Anadarko Takeover but Board Fight May Continue

Occidental Completes Anadarko Takeover but Board Fight May Continue

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.

August 8, 2019

Anadarko Oil, Natural Gas Production Climbs 17% Year/Year

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.

July 29, 2019
Occidental Deal for Anadarko ‘Reprehensible,’ Says Icahn

Occidental Deal for Anadarko ‘Reprehensible,’ Says Icahn

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.

July 23, 2019
Oxy Commits to Buy Anadarko with Eye on Permian Growth

Oxy Commits to Buy Anadarko with Eye on Permian Growth

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.

May 10, 2019
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