Operator · Canada Oil Sands, Cline Shale & Permian Basin
Occidental Petroleum Corp
80 articles mentioning Occidental Petroleum Corp · Page 2 of 4
Insider Activity: Pioneer, Oxy Staff Members Selling Off Stock
Members of Occidental Petroleum and Pioneer Natural Resources' staff have initiated stock sales in recent days. Most of the transactions were from Pioneer, while Oxy only saw one transaction. Details include: Enlarge Image
Oxy Cut Dividends in Attempt to Preserve Cash
Occidental Petroleum has cut its quarterly dividend to $.01 per share yesterday, this is after a 85% cut back in March. Shares fell (-5%) in after market trading. Oxy has been trying a confluence of things...
Oxy Offering Buyout Deal to Employees
Occidental Petroleum is looking to thin its workforce by offering voluntary buyouts to current employees, according to multiple reports. Workers have until May 26, 2020 to submit voluntary resignation offers. Oxy asks employees to specify "the...
Occidental Petroleum First Quarter 2020 Results
Occidental Petroleum reported its Q1 2020 results. Oxy announced a net loss attributable to common stockholders for the first quarter of 2020 of $2.2 billion, or $2.49 per diluted share, and an adjusted loss attributable to...
Oxy Promotes Peterson to CFO as Burgher Takes on New Role
Occidental Petroleum has appointed Robert Peterson as its new CFO (he formerly served as Oxy's Senior VP of Permian EOR). Peterson replaces Cedric Burgher, who will transition to another role in the company.
Trump to Meet with Top Oil Execs Regarding Possible Aid
President Trump has set a meeting with top oil and gas executives to discuss potential assistance in the wake of the sharp oil price plunge, according to a report by the Wall Street Journal. The meeting...
Oxy Cuts Capex Deeper; Capex Down -69% Y/Y; $2.8 Billion
Occidental Petroleum today further reduced its planned 2020 capital spending to between $2.7 billion and $2.9 billion from its original 2020 guidance of $5.2 billion to $5.4 billion, a midpoint reduction of 47 percent. At current...
Oxy Axes $1.7B from 2020 Capex as WTI Tanks; Down 60% from 2019
Occidental Petroleum Corp. has approved a reduction of its 2020 capital spending to between $3.5-$3.7 billion from $5.2-$5.4 billion. This is a 32% decrease from its original plan ($1.7 billion less) and a substantial 60% drop...
Oxy in Talks with Wyoming for Potential Land Deal
Occidental Petroleum is currently in talks to sell a chunk of acreage in Wyoming back to the state, according to a report by The Financial Times. Several bills that would make the sale possible are currently...
Oxy Details Fourth Quarter 2019 Results
Occidental Petroleum Corp. announced its fourth quarter 2019 results. Highlights: Fourth quarter company-wide production of 1,402,000 BOEPD; exceeded mid-point of guidance by 78,000 BOEPD Permian Resources production of 476,000 BOEPD exceeded mid-point of guidance by 22,000...
Oxy Cut Another $100 Million From 2020 Capex; Impairment
According to a recent SEC filing, Occidental Petroleum (Oxy) has updated its 2020 capital plans and expected production (the company first announced its plans in November 2019). Annual production is expected to grow 2% in 2020...
With Anadarko Deal Sealed, Oxy Begins Cutting Workforce
Occidental Petroleum is prepping to make massive cuts to its workforce, according to a report by the Houston Chronicle. This move is not unexpected as the company is likely looking to cut costs in the wake...
Oxy Bolsters Oil Hedges by 17% to 350,000 BOPD
Occidental Petroleum has significantly increased its oil hedges. The company also struck a deal with Western Midstream (see below hedging). Oil Hedging - Adds 50,000 BOPD Occidental increased its 2020 volume of hedged oil production by...
Mergers & Acquisitions Review: Q4 & Full Year 2019 - Deal Count Falls
Shale Experts tracked $92.4 billion in transactions in 2019. In Q4 2019 we saw an interesting trend where the appetite for M&A increased to the highest since 2017. See chart below. Q4 2019 Deal Activity US...
Oxy Adds Former Schlumberger CEO to Board
Occidental Petroleum Corp. announced that Andrew Gould, former Chairman and Chief Executive Officer of Schlumberger Limited, has been elected to its Board of Directors effective March 1, 2020. About Gould Mr. Gould has more than 40...
Oxy Moves to Put Uinta Basin Asset Up for Sale
Occidental Petroleum is shopping around its Uinta Basin asset as part of its initiative aimed to cut debt following its $B mega-acquisition of Anadarko Petroleum Corp., according to a report by Reuters. The Uinta Basin property...
Oxy, Ecopetrol Finalize $1.5B Permian JV; Plan to Double Rigs in 2020
Occidental Petroleum and Ecopetrol SA have finalized their previously announced $1.5 billion Midland Basin JV deal. The JV will focus on the development of unconventional reservoirs in approximately 97,000 acres of the Midland Basin. For these...
Oxy Details Q3 2019 Results
Occidental Petroleum announced a net loss attributable to common stockholders for the third quarter of 2019 of $912 million, or $1.08 per diluted share, and adjusted income attributable to common stockholders of $93 million, or $0.11...
Oxy Takes Axe To 2020 Capex; Well Count Down 45% Y/Y
In a move that was somewhat expected, but not as drastic Oxy outlined its 2020 capex and the cuts are deep. A picture is worth a thousand words. The the picture below. Lets focus on a...
M&A Highlights: Q3 2019
M&A Highlights: Q3 2019 Deals Map For the first time in recent quarters, the MidCon region has dominated the deal count compared to other plays. This development is highlighted by two deals: Apache's exit of the...