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Oxy to Divest Permian Acreage in $508MM Deal
Occidental has agreed to sell non-strategic acreage in the Permian Basin to a Colgate Energy Partners III, LLC.
8:00 PM EST | June 09, 2021
Shell Court Decision Emboldens Climate Lawyers
Analyst says the case probably will not affect USA courts, though.
8:00 PM EST | May 26, 2021
Shale Drilling Specialist Cuts Staff in Houston
A private equity firm that specializes in shale drilling fired 111 people at its Houston headquarters.
8:00 PM EST | May 02, 2021
Shale Gas Exec Criticizes Vague Climate Pledges
An executive at USA shale gas explorer CNX Resource Corp. contends long-term pledges to reduce emissions lack detail and accountability.
8:00 PM EST | April 29, 2021
Former Shale CEO Looks Beyond $1.15B Renewable Gas SPAC
The former head of a major U.S. shale driller is eyeing more investments in the energy transition.
8:00 PM EST | April 13, 2021
Permian Oil Output Reflects Economic Recovery
The Permian Basin will produce crude oil at levels not seen since the start of the pandemic.
8:00 PM EST | April 12, 2021
Will Houston Be the Energy Transition Epicenter?
A pair of veteran Silicon Valley venture capitalists plan to accelerate the end of the fossil-fuel era from an unlikely perch.
8:00 PM EST | April 12, 2021
Exec Says Carbon Tax Bad for Oil and Gas Industry
Check out some of the most popular articles from the past week among Rigzone's downstream audience.
8:00 PM EST | April 10, 2021
South Texas LNG Facility Would Support Sequestration
Check out some of Rigzone's most-viewed downstream-related articles from the past week.
8:00 PM EST | April 03, 2021
Gulf Coast Refineries May Need Weeks to Recover
Here is a look back at some of Rigzone's most popular downstream-related articles from the past week.
7:00 PM EST | February 27, 2021
Oxy Expects 40% Unused Pipeline Capacity from Permian
The company's expected 485,000 bpd of Permian oil equivalent production represents just 60% of its committed pipeline capacity.
7:00 PM EST | February 23, 2021
Oxy Declares Force Majeure
The second-largest oil producer in the Permian Basin of West Texas and New Mexico told buyers it will be forced to curtail deliveries.
7:00 PM EST | February 15, 2021
Japanese E&P to Spend Up to $145MM Offshore UAE
Abu Dhabi awarded Japan's Cosmo Energy Holdings Co. the right to explore for offshore oil and natural gas.
7:00 PM EST | February 09, 2021
Permian Project Could Herald Rise of US Energy ESG
Here is a preview of what to watch this week in oil and gas markets.
7:00 PM EST | January 31, 2021
Shale CEOs Urge Production Restraint
The new boss of Devon Energy said he won't let this week's rally in oil prices tempt him to return to the days of rampant production growth at any cost.
7:00 PM EST | January 06, 2021
Oxy CEO Sees More US Upstream Consolidation
US upstream producers need to undergo "a lot more consolidation," Occidental Petroleum's Vicki Hollub told IHS Markit.
7:00 PM EST | December 03, 2020
Petrobras Chief Likens Net Zero to Fad
His stance more or less echoes ExxonMobil and Chevron's.
7:00 PM EST | December 01, 2020
Oxy Pivots to Net Zero Path
Occidental Petroleum Corp. became the first major US oil producer to aim for net zero emissions from everything it extracts and sells.
7:00 PM EST | November 10, 2020
BP May Be Exploring GOM Oilfield Sale
BP is weighing a sale of its majority stake in the Constellation oilfield in the Gulf of Mexico, according to people familiar with the matter.
8:00 PM EST | October 21, 2020
Modest Deals Reflect Slide for US Shale
There is no more dramatic sign of the US shale industry's fall from grace than one of the best in the business being sold off for less than a third of its peak value.
8:00 PM EST | October 19, 2020
Another Permian Operator Sale May Be Underway
Pioneer Natural Resources Co. is in talks to buy rival U.S. shale driller Parsley Energy Inc., according to a person familiar with the matter.
8:00 PM EST | October 19, 2020
ConocoPhillips to Acquire Permian Operator in $9.7B Deal
ConocoPhillips agreed to buy Concho Resources Inc. for about $9.7 billion in stock.
8:00 PM EST | October 18, 2020
$200MM Oxy Cash Payout Suggests Growing Confidence
Oxy will pay approximately $200 million in dividends on preferred shares to Berkshire Hathaway in cash rather than common stock.
8:00 PM EST | September 20, 2020
Oilfield Fraud Lawsuit Ensnares $100MM CEO
In their lawsuit, investors allege Anadarko executives kept repeating rosy expectations about Shenandoah long enough to profit from them.
8:00 PM EST | September 08, 2020
Schlumberger Alum Joins McDermott Board
Andrew F. Gould has joined McDermott International's board of directors, effective Aug. 27, 2020.
8:00 PM EST | August 26, 2020
Berkshire Hathaway Sells Oxy Stake
Warren Buffett's Berkshire Hathaway, Inc. had helped fund Occidental's takeover of Anadarko Petroleum Corp.
8:00 PM EST | August 16, 2020
Hollub Says Algeria Assets Are Off the Market
Occidental Petroleum CEO Vicki Hollub told analysts the Algerian oil and gas assets are a core holding.
8:00 PM EST | August 10, 2020
Oxy Books $6.6B Charge for Second Quarter
Occidental is struggling with a $40 billion debt burden after its ill-timed purchase of Anadarko Petroleum Corp. last year.
8:00 PM EST | August 09, 2020
Oxy Restores Cuts to Employee Pay
Occidental Petroleum Corp. has restored employee pay cuts imposed after oil prices tumbled and doubled the salary cap for executives to $500,000 a year.
8:00 PM EST | August 02, 2020
$4.5B Asset Sale Would Lighten Oxy Debt Load
Occidental Petroleum reportedly is in talks about a potential sale of energy assets in Africa and the Middle East to Indonesia's state-owned PT Pertamina.
8:00 PM EST | July 28, 2020
Chevron's Noble Deal Could Be New M&A Blueprint
Chevron Corp. reported Monday that it has struck a definitive agreement to acquire all outstanding shares of Noble Energy, Inc.
8:00 PM EST | July 19, 2020
Agile but Slow US Shale Recovery Likely
Firmer oil prices have resulted in companies bringing back some wells they shut over April and May. However, the recovery road could be a long one this time around.
8:00 PM EST | June 30, 2020
Oil Shock Upends Shale's Newest Powerhouse
New Mexico is exhibit A of this boom-to-bust dynamic, with the state's revenue forecasts plunging and over 4,600 workers in mining.
8:00 PM EST | June 21, 2020
Texas Regulator Eyes Flaring Crackdown
Texas will look into policies to "drastically reduce" natural gas flaring as investors become increasingly sensitive to climate change concerns.
8:00 PM EST | June 15, 2020
Occidental Eyes Mideast Assets in Play to Slash Debt
Occidental is considering reducing its stakes in oil and natural gas fields in Oman.
8:00 PM EST | June 08, 2020
Oxy Faces Investor Lawsuit Over Anadarko Acquisition
Investors claim they lost billions when Oxy overleveraged itself after its Anadarko acquisition.
8:00 PM EST | May 28, 2020
Total Ditches Ghana Oil Deal With Occidental
Losing the sale is a setback for Oxy, which had earmarked the proceeds to reduce debt after buying Anadarko for $37B last year.
8:00 PM EST | May 17, 2020
Oxy Seeks Federal Lifeline For US Oil Industry
Employees are being urged to send a pre-written wish list to Congress members.
8:00 PM EST | April 08, 2020
Oxy Shuffles Leadership, Appoints New CFO
While the company did not name reasons for the management change, it did note that Cedric Burgher will transition to another Oxy role.
8:00 PM EST | April 07, 2020
Oxy Elects Stephen Chazen to Board as Chairman
Chazen has more than 30 years of oil and gas experience, and he was CEO of Oxy from 2011 to 2016.
8:00 PM EST | March 24, 2020
Texas Layoffs Adding Up
Tens of thousands of Texans are being laid off, says state oil and gas regulator.
8:00 PM EST | March 19, 2020
Icahn Anticipates Strong Bids to Emerge for Oxy on Oil Rebound
Activist investor Carl Icahn expects oil prices will rebound in the near to medium term and that "strong bids" will emerge for Oxy.
8:00 PM EST | March 11, 2020
Occidental Confirms Dividend and Capex Cuts
The large shale producer is cutting its quarterly dividend by 86 percent and capex by approximately one-third.
8:00 PM EST | March 10, 2020
Occidental to Slash Spending After Oil Crash
Shares of Occidental dropped as much as 48 percent Monday amid a broad market sell-off.
8:00 PM EST | March 08, 2020
Crestwood Starts Commercial Ops at Bucking Horse
The company has also teamed up with Oxy to provide wellhead services for its 2020 delineation program in the Powder River Basin.
7:00 PM EST | March 04, 2020
Occidental's Anadarko Buy Yields 2019 Loss
The company took a hit of $965 million in 2019, versus $4.1 billion in profit the year before.
7:00 PM EST | March 01, 2020
Investors Tightening the Screws on Oil, Gas Acquisitions
M&A activity in oil and gas has almost ground to a halt after a flurry of deals last autumn.
7:00 PM EST | February 16, 2020
Oxy to Cut $7.8B Debt With Pipeline Split
Occidental plans to make the pipeline business it acquired as part of last year's takeover of Anadarko a stand-alone company, removing about $7.8 billion of debt from its balance sheet.
7:00 PM EST | January 05, 2020
Oxy Elects Former Schlumberger CEO to Board
Occidental Petroleum Corporation announced the election of former Schlumberger Ltd. CEO Andrew Gould to its board of directors.
7:00 PM EST | January 01, 2020
Oxy Forms Permian JV with Ecopetrol
Occidental has closed its previously announced Permian Basin joint venture with Colombia-based Ecopetrol S.A.
7:00 PM EST | November 12, 2019