Thursday, January 30, 2025
Occidental Announces Early Tender Results and Further Upsize in Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes -oil and gas 360

Occidental Petroleum reports $965 million loss in 2019

Houston Chronicle Costs related to Occidental Petroleum’s acquisition of Anadarko Petroleum last year drove losses for the Houston oil and gas producer in 2019, the company said Friday. Oxy said it lost $965 million or $1.22 per share in 2019, compared with a $4.1 billion profit or $5.39 per share in the previous year. The company said it took on

Occidental Announces -Andrew Gould Elected to Occidental Board of Directors Oil & Gas 360

Oxy Lowers Production Guidance on Legacy Anadarko Assets

From The Houston Chronicle With Occidental Petroleum finalizing its $38 billion acquisition of Anadarko Petroleum last week, Oxy is now lowering its oil and gas production guidance for the legacy Anadarko assets. For the rest of this year, Oxy said Anadarko’s assets will see lower production volumes by at least a couple of percentage points than anticipated because of pipeline

Occidental Finance Chief Pledges to Act Quickly to Pare Acquisition Debt

From Reuters Occidental Petroleum Corp (OXY.N) expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday. Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week, told an Enercom energy conference audience, the resulting debt burden was “not that bad,”

Occidental Announces -Andrew Gould Elected to Occidental Board of Directors Oil & Gas 360

Occidental Closes on Anadarko

By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum completes its $55 billion takeover of Anadarko Petroleum Occidental Petroleum Corporation (stock ticker: OXY), led by President and CEO Vicki Hollub, has completed its acquisition of Anadarko Petroleum Corporation (stock ticker: APC) in a deal worth $55 billion, including the assumption of Anadarko’s debt. The closing of the transaction

Icahn Enterprises Completes Sale of Brazilian Resource Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on its previously announced sale of Ferrous Resources Limited to Brazilian mining company Vale S.A. for a total consideration of $550

Ithaca Energy Acquires Chevron North Sea Limited for $2 Billion - Oil & Gas 360

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday. Exxon’s topped analysts’ reduced estimates for the quarter but net fell 21% from a year earlier, its third quarter in a row of weaker year-over-year profit, despite a near doubling

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

From The Houston Chronicle Occidental Petroleum reported a $635 million quarterly profit that dipped 25 percent from the year prior, but the focus still remains on Oxy’s $38 billion acquisition of Anadarko Petroleum that could close in August. Houston-based Oxy said it plans to close the Anadarko deal next week after the scheduled Aug. 8 vote of Anadarko shareholders to

Occidental Announces -Andrew Gould Elected to Occidental Board of Directors Oil & Gas 360

Occidental Petroleum Profit Falls on Low Gas Prices, Derivative Contracts

From Reuters Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to derivatives contracts and lower natural gas prices. Core income fell to $729 million, or 97 cents per share, in the

anadarko-600w Chevron, Anadarko Megadeal Portends Billions in Asset Divestment - Oil & Gas 360

Chevron, Anadarko Megadeal Portends Billions in Asset Divestment

From the Houston Business Journal Chevron Corp.’s (NYSE: CVX) $33 billion acquisition of The Woodlands-based Anadarko Petroleum Corp. (NYSE: APC) precedes a spike and acceleration in Chevron’s planned divestments. First, Chevron is moving up the date by which it plans to sell about $2 billion in assets outside the U.S., many of which had already been announced, said Mike Wirth, Chevron’s CEO and chairman. Those are

anadarko-600w Chevron, Anadarko Megadeal Portends Billions in Asset Divestment - Oil & Gas 360

Drilling-Frozen Erie, Colo. tells Anadarko Petroleum: Go Ahead, Drill Your 23 Wells, We Want the Tax Revenue to Build Infrastructure

From the Denver Business Journal Even a local government with a moratorium on oil and gas drilling can support new wells when doing so helps its long-term economic development goals. Anadarko — Colorado’s largest oil-and-gas producer — and the northern metro-area town of Erie struck a deal in which Anadarko will drill 23 new wells on property it owns in

anadarko-600w Chevron, Anadarko Megadeal Portends Billions in Asset Divestment - Oil & Gas 360

Anadarko Names New President to Lead Worldwide Operations

Anadarko elevates other executives, adds board members Anadarko Petroleum Corporation (stock ticker: APC) has named Bob Gwin, formerly the company’s EVP finance and CFO, to the position of president. In his new role, Gwin will be responsible for leading Anadarko’s worldwide operations, project management, exploration, midstream and marketing, as well as the company’s expanding next-generation technology development and systems solutions.