Occidental

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’s Anadarko Purchase Questioned by Icahn, Who Threatens Board Fight

Activist investor Carl Icahn, who holds an estimated $1.6 billion (5%) stake in Occidental Petroleum Corp. (Oxy), has filed a lawsuit over the proposed acquisition of Anadarko Petroleum Corp., which he called misguided and overpriced.

June 3, 2019
West Texas Permian to Site Largest DAC, CO2 Sequestration Project

West Texas Permian to Site Largest DAC, CO2 Sequestration Project

The Permian Basin in West Texas has been chosen to site the world’s largest direct air capture (DAC) and sequestration facility, according to Occidental Petroleum Corp. (Oxy) and Carbon Engineering Ltd. (CE).

May 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
Oxy Apparent Winner in Anadarko War as Chevron Surrenders

Oxy Apparent Winner in Anadarko War as Chevron Surrenders

Chevron Corp. said Thursday it would not make a counterproposal to a substantial offer to acquire Anadarko Petroleum Corp., which would appear to give Occidental Petroleum Corp. a global oil and natural gas prize.

May 9, 2019
Chevron Cedes to Oxy, Ends Tug-of-War for Anadarko

Chevron Cedes to Oxy, Ends Tug-of-War for Anadarko

Occidental Petroleum Corp. (Oxy) appeared willing to pay a substantial premium to acquire Anadarko Petroleum Corp. and its vast holdings in the Permian Basin, at least more than Chevron Corp. was willing to, after the supermajor withdrew from the bidding war Thursday.

May 9, 2019
Anadarko Agrees to Oxy Offer, with Onus on Chevron to Ante Up

Anadarko Agrees to Oxy Offer, with Onus on Chevron to Ante Up

Anadarko Petroleum Corp.’s board is awaiting a decision by Chevron Corp. to boost the terms of its takeover offer after indicating late Monday that it may agree to take the increased bid by Occidental Petroleum Corp. (Oxy).

May 7, 2019

Anadarko Resuming Merger Negotiations with Oxy

Anadarko Petroleum Corp. said Monday it is going back to the table to discuss a mega-merger with Occidental Petroleum Corp. (Oxy), even though it has a definitive agreement with Chevron Corp. that includes a $1 billion breakup fee.

April 29, 2019