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Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward

Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward

Occidental Petroleum Corp. on Wednesday padded its bottom line with a big deal to sell a bundle of western properties, while boosting another venture to develop a massive carbon capture facility in its No. 1 Lower 48 play, the Permian Basin. The Houston-based independent, better known as Oxy, agreed to sell some Colorado, Utah and…

August 20, 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

Colorado Carbon Capture Project on Drawing Board

The viability of capturing and storing carbon dioxide (CO2) emissions from a Colorado cement plant is being studied by a group of U.S. and foreign corporations.

January 8, 2020
Oxy to Reduce Capex in Permian, Sell More Assets as Synergies with Anadarko Takeover Kick In

Oxy to Reduce Capex in Permian, Sell More Assets as Synergies with Anadarko Takeover Kick In

Houston-based Occidental Petroleum Corp. (Oxy) plans to sharply reduce capital spending in 2020, particularly in the Permian Basin, in the aftermath of its megadeal to acquire Anadarko Petroleum Corp.

November 6, 2019
Oxy Secures $57B Agreement for Anadarko as Shareholders Meet

Oxy Secures $57B Agreement for Anadarko as Shareholders Meet

Hours after Chevron Corp. retreated Thursday, Houston-based Occidental Petroleum Corp. entered into a definitive agreement to acquire Anadarko Petroleum Corp.

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
Oxy Boosts Anadarko Offer, Gets Total on Board to Buy Natural Gas-Heavy Assets in Africa

Oxy Boosts Anadarko Offer, Gets Total on Board to Buy Natural Gas-Heavy Assets in Africa

Occidental Petroleum Corp. (Oxy) on Sunday substantially increased its offer to take over Anadarko Petroleum Corp., and if completed, it already has an agreement in hand with Total SA to sell $8.8 billion of natural gas-rich African assets, including Anadarko’s proposed export project in Mozambique.

May 6, 2019

Berkshire Hathaway Commits $10B to Help Oxy Take Anadarko

Berkshire Hathaway Inc. agreed Tuesday to invest up to $10 billion in Occidental Petroleum Corp. (Oxy) to help the independent usurp Chevron Corp.’s bid to buy Anadarko Petroleum Corp.

April 30, 2019
Amid Red Ink, Oxy California Spinoff to Add Two Rigs, Take $1B Loan

Amid Red Ink, Oxy California Spinoff to Add Two Rigs, Take $1B Loan

While reporting larger quarterly losses, California Resources Corp. (CRC) officials indicated that they are starting a modest turnaround, adding two rigs and successfully pricing a $1 billion first lien secured credit facility.

August 8, 2016

Oxy California Spinoff Continues to Hunker Down; Asset Sales Off Table, CFO Says

The Occidental Petroleum Corp. (Oxy) spinoff, California Resources Corp. (CRC), is lowering its profile to fit a continuing low-priced commodity environment by shedding debt and rethinking the need for various asset sales, CFO Mark Smith said Wednesday as part of a panel discussion at the Goldman Sachs Global Energy Conference in Miami.

January 7, 2016