Occidental Petroleum Corp.
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About
Occidental is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities. The company’s wholly owned subsidiary OxyChem manufactures and markets basic chemicals and vinyls.
Editor's note: July 16, 2019.
Transactions
Occidental Sells Ghana Asset to Kosmos for $550 Million
Occidental Sells Ghana Asset to Kosmos for $550 Million
Occidental Sells Ghana Asset to GNPC for $200 Million
Occidental Sells Ghana Asset to GNPC for $200 Million
Occidental Sells Permian Acreage to Colgate for $508 Million
Occidental Sells Permian Acreage to Colgate for $508 Million
Occidental Petroleum Grows Middle East Presence with Abu Dhabi Deal
Occidental Petroleum Grows Middle East Presence with Abu Dhabi Deal
Occidental Petroleum to Sell Colombia Onshore Assets for $825 Million
Occidental Petroleum to Sell Colombia Onshore Assets for $825 Million
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New Financings
Commenced cash tender offers to purchase for cash outstanding notes in three separate pools. Occidental’s…
Commenced cash tender offers to purchase its outstanding notes in two separate pools limited to an…
Commenced cash tender offers to purchase up to a maximum combined aggregate purchase price of $2 billion…
Commenced offer to purchase for cash up to a maximum aggregate purchase price, excluding accrued but…
Occidental Petroleum Corp. announced the expiration and final results of (i) the offers to exchange any…
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News
Axis Energy Deploys Fully Electric Well Service Rig
Axis Energy Services’ EPIC RIG has the ability to run on grid power for reduced emissions and increased fuel flexibility.
Ecopetrol, Occidental Permian JV Generating Positive Results
Ecopetrol SA's joint venture with Occidental Petroleum in the Permian continues to generate outstanding operational and financial results for the Colombian state-owned energy giant.
Making Bank: Top 10 Oil and Gas Dealmakers in North America
MergerLinks ranks the key dealmakers behind the U.S. biggest M&A transactions of 2023.
Sitio Royalties Dives Deeper in D-J with $150MM Acquisition
Sitio Royalties is deepening its roots in the D-J Basin with a $150 million acquisition—citing regulatory certainty over future development activity in Colorado.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
The One Where EOG’s Stock Tanked
A rare earnings miss pushed the wildcatter’s stock down as much as 6%, while larger and smaller peers’ share prices were mostly unchanged. One analyst asked if EOG is like Narcissus.
Enterprise Buys Assets from Occidental’s Western Midstream
Enterprise bought Western’s 20% interest in Whitethorn and Western’s 25% interest in two NGL fractionators located in Mont Belvieu, Texas.
Occidental Reports ‘Great Progress’ on Net-zero Pathway, DAC
Most of Occidental Petroleum’s planned $600 million investment in emerging low-carbon ventures for 2024 will go to direct air capture facility STRATOS, CEO Vicki Hollub says.
Occidental to Divest Some Permian Assets after Closing CrownRock Deal
Occidental CEO Vicki Hollub said plans to divest non-core Permian assets would come after closing the pending acquisition of CrownRock — but reports have since emerged that the company is considering selling its share of Western Midstream Partners, valued at about $20 billion, according to Reuters.
Report: Occidental Eyes Sale of Western Midstream to Reduce Debt
Occidental is reportedly considering a sale of pipeline operator Western Midstream Partners as the E&P works to close a $12 billion deal in the Permian Basin.
Valaris Updates Fleet Status
The backlog of these contracts and extensions is valued at $1.2 billion.
Majors Aim to Cycle-proof Oil by Chasing $30 Breakevens
Majors are shifting oilfields with favorable break-even points following deeper and more frequent boom cycles in the past decade and also reflects executives' belief that current high prices may not last.
Analysts: Diamondback-Endeavor Deal Creates New Permian Super Independent
The tie-up between Diamondback Energy and Endeavor Energy—two of the Permian’s top oil producers—is expected to create a new “super-independent” E&P with a market value north of $50 billion.
Occidental Increases Annual Dividend by 22%
Occidental Petroleum Corp.’s newly declared dividend is at an annual rate of $0.88 per share, compared to the previous annual rate of $0.72 per share.
Report: Devon Energy Targeting Bakken E&P Enerplus for Acquisition
The acquisition of Enerplus by Devon would more than double the company’s third-quarter 2023 Williston Basin production.