From Reuters An intensifying tropical storm in the U.S. Gulf of Mexico on Thursday cut more than half the region’s oil output, with energy companies evacuating staff from nearly 200 offshore facilities and a coastal refinery. Oil firms shut more than 1 million barrels per day of oil production, 53% of Gulf of Mexico’s output, and 1.2 billion cubic feet
By Tyler Losier, Energy Reporter, Oil & Gas 360 Penn Virginia CFO to step down Penn Virginia Corporation (stock ticker: PVAC), a pure-play independent E&P focused on Eagle Ford shale, has announced that Steven A. Hartman, current chief financial officer, senior vice president, and treasurer for the company will be stepping down in the near future. Source: Penn Virginia Corporation
From Bloomberg Adviser helping find buyer for stakes in pipeline operator, Occidental struck $38 billion agreement for Anadarko in May Occidental Petroleum Corp. is seeking a buyer to take majority control of Western Midstream Partners LP, the pipeline operator that it’s poised to inherit through its takeover of Anadarko Petroleum Corp., according to people familiar with the matter. Occidental is
Anadarko Announces Mozambique LNG Final Investment Decision
Occidental Announces Early Termination of Hart-Scott-Rodino Waiting Period
Rather than plunking down tens of billions of dollars on Anadarko, Icahn argued that Occidental should instead have put itself up for sale From CNN Business New York (CNN Business) Billionaire Carl Icahn launched a legal attack on Occidental Petroleum on Thursday, arguing the oil company paid way too much money to acquire Anadarko Petroleum. Icahn, whose firms own about $1.6 billion
From S&P Global Platts Houston — Gulf of Mexico operator Talos Energy may be interested in buying some of Anadarko Petroleum’s deepwater Gulf of Mexico assets that Occidental Petroleum will acquire in its pending $57 billion purchase of that company, Talos’ CEO said Thursday. In addition, Talos – the first foreign company to make a discovery in Mexico’s offshore in
By Tyler Losier, Energy Reporter, Oil & Gas 360 On May 17, Jones Energy, Inc. (stock ticker: JONEQ) emerged from Chapter 11 after satisfying the requirements of the company’s pre-packaged plan. The announcement came 33 days after the company filed for bankruptcy protection, and less than two weeks after the U.S. Bankruptcy Court for the Southern District of Texas
From Reuters Chevron Chief Executive Michael Wirth’s decision to opt out of a bidding war for Anadarko Petroleum Corp has raised the bar for deals, and dampened expectations that oil majors will drive a new wave of consolidation in U.S. shale. Wirth last week ruled out increasing his $33 billion offer for Anadarko after being outbid by Occidental Petroleum Corp,
$1 billion breakup fee makes easy payday for Chevron shareholders By Richard Rostad, analyst, Oil & Gas 360 Chevron (ticker: CVX) announced today it will concede to Occidental (ticker: OXY) in the bidding war for Anadarko (ticker: APC). While Chevron could theoretically outbid Oxy in its quest for Anadarko, Chairman and CEO Michael Wirth decided the price of doing so
From Reuters It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko. Patrick Pouyanne pounced after Occidental Corp trumped Chevron’s $33 billion bid for Anadarko in April with an offer that includes
Offshore Area 1: 75 Tcf await liquefaction, sales The president of Mozambique met with Anadarko CEO Al Walker Tuesday and announced plans for Mozambique LNG to announce the final investment decision (FID) during a celebratory event on June 18, 2019 in Maputo. Anadarko and partners in the project have discovered approximately 75 trillion cubic feet (Tcf) of recoverable natural gas resources in Offshore
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