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.
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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.
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.
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).
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.
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.
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.
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).
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.