Occidental

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.

Houston-based Occidental Petroleum Corp. (Oxy) on Wednesday took Chevron Corp. to the mat for Anadarko Petroleum Corp. with a cash-and-stock offer estimated to be a 20% premium to the supermajor’s bid earlier this month.

Houston-based Occidental Petroleum Corp.’s (Oxy) $57 billion counter bid to acquire Anadarko Petroleum Corp. out from under Chevron Corp., which CEO Vicki Hollub said remained a friendly, not hostile offer, is based on the value of its Lower 48 properties, particularly the Permian Basin.

Chevron Corp. and Occidental Petroleum Corp. (Oxy) are tackling carbon emissions head on, with a joint equity investment in Canada-based Carbon Engineering Ltd. (CE).

Houston-based Occidental Petroleum Corp. (Oxy) executives on Tuesday reported continued operating efficiencies and well production improvements throughout its aggressive development in the Permian Basin.

Occidental Petroleum Corp. (Oxy) and White Energy are evaluating the economic feasibility of a carbon capture project in West Texas that could help Oxy produce more Permian Basin oil.

Signaling it will reach Permian Basin growth and efficiency goals six months ahead of schedule later this year, Occidental Petroleum Corp.’s (Oxy) senior executives on Wednesday reported sharp increases in 1Q2018 earnings, and a 12% bump in Permian boe daily production.

Occidental Petroleum Corp.’s (Oxy) senior executives on Wednesday were whistling a familiar tune regarding production growth and efficiency gains, led by the Permian Basin, with fourth quarter output jumping year/year by a record 20,000 boe/d to 159,000 boe/d.