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re: OXY buying APC for 57B

Posted on 4/25/19 at 5:42 pm to
Posted by GREENHEAD22
Member since Nov 2009
20548 posts
Posted on 4/25/19 at 5:42 pm to
So what is the boards thoughts on if OXY wins out? Originally I was going to hold and take the Chevron stock but thinking of just cashing out of OXYs offer is accepted.
Posted by barry
Location, Location, Location
Member since Aug 2006
51331 posts
Posted on 4/30/19 at 10:08 am to
Got us an old fashion bidding war boys.
Posted by castorinho
13623 posts
Member since Nov 2010
86554 posts
Posted on 4/30/19 at 10:19 am to
Love it. Vicki flexing.
Chevron, you're up.
Posted by ragincajun03
Member since Nov 2007
27530 posts
Posted on 4/30/19 at 10:21 am to
Warren Buffett now throwing in with Oxy.

Vicki Hollub soon to become Queen of the Permian?
Posted by castorinho
13623 posts
Member since Nov 2010
86554 posts
Posted on 4/30/19 at 10:30 am to
How much does Chevron value the Mozambique thing? Because I'm looking at the acreage map and there's a lot of players that they could aquire there to improve their position in the Permian.
Posted by ragincajun03
Member since Nov 2007
27530 posts
Posted on 4/30/19 at 11:13 am to
quote:

How much does Chevron value the Mozambique thing?


If they value it highly, would Oxy just turn around and try to sell that (and maybe GOM?) to Chevron? After all, Oxy has been consolidating acreage and investment into the Permian, especially after the last dip in prices in ‘14/‘15.
Posted by GREENHEAD22
Member since Nov 2009
20548 posts
Posted on 4/30/19 at 11:40 am to
I would think oxy will sell off everything but the Permian assets. They will for sure the GOM stuff. Hell Chevron will sell off most of the GOM except for 2-3 facilities.
Posted by barry
Location, Location, Location
Member since Aug 2006
51331 posts
Posted on 4/30/19 at 1:41 pm to
quote:

Warren Buffett now throwing in with Oxy.


Can i get in on this 8% dividend?
Posted by castorinho
13623 posts
Member since Nov 2010
86554 posts
Posted on 5/1/19 at 1:24 pm to
I didn't realize flightaware tracking was a thing in investing. Thought that was a football coaches search thing .
Not that I'm surprised in the least, just never thought about it.

They had the oxy plane in Omaha before the Buffet a announcement. Now the plane went to Paris, and speculation is that they're already looking for potential suitors to offlaod the LNG project to (Total).
Posted by lsugradman
Member since Sep 2003
8940 posts
Posted on 5/1/19 at 10:13 pm to
Not a chance. Combined APC and CVX would have 16 GOM facilities. They might SELL 2 or 3 down the road. No way they only keep 2-3.
Posted by GREENHEAD22
Member since Nov 2009
20548 posts
Posted on 5/2/19 at 10:55 am to
Well considering APC is in the process of pulling 4 out of the water and 2 others are near end of life and will require regulatory extension I will go out on a limb and say you are wrong. They will keep Lucius, Heidelberg and maybe Horn Hountain. They will sell some or all of Marlin, Holstein, and Constitution if I had to guess.
This post was edited on 5/2/19 at 11:11 am
Posted by polizei11
Houston
Member since May 2009
1138 posts
Posted on 5/3/19 at 11:39 am to
60% of the Anadarko GoM portfolio is in Lucius, Caesar-Tonga (Constitution) and Horn Mountain. Anadarko has ~250 MM$ of abandonment liability over the next 5 years.

Chevron would definitely high grade their combined portfolio and divest most of the acquired assets. Oxy would either divest the entire GoM portfolio (which would over saturate the market of GoM assets for sale IMHO) or keep the APC GoM staff as is and continue APC's GoM strategy.
Posted by lsugradman
Member since Sep 2003
8940 posts
Posted on 5/5/19 at 7:38 am to
Sorry I thought you were saying that if Cvx acquires apc they will sell off all but 2-3 of their combined assets. I can definitely see them only keeping 3 or so of APC legacy assets.
Posted by lsugradman
Member since Sep 2003
8940 posts
Posted on 5/5/19 at 7:40 am to
Lucius and Ceasar Tonga - Constitution would be kept for sure. Maybe Heidelberg, Holstein and Horn Mountain as well.
Posted by The Egg
Houston, TX
Member since Dec 2004
83243 posts
Posted on 5/5/19 at 4:27 pm to
- Occidental Petroleum's deal with French oil giant Total is contingent on the former reaching an agreement to buy Anadarko Petroleum.

- Occidental is competing with Chevron, a much larger rival, to take over Anadarko.

-Occidental would sell Anadarko's assets in Algeria, Ghana, Mozambique and South Africa to Total.

LINK
Posted by TigerV
Member since Feb 2007
2838 posts
Posted on 5/5/19 at 4:41 pm to
This is huge news. They have now secured investor money and a buyer for the assets everyone knew that they would need to sell. It removes a lot of uncertainty that oxy has in the deal, and should make it easier for the anadarko board to take it.
Posted by castorinho
13623 posts
Member since Nov 2010
86554 posts
Posted on 5/5/19 at 4:55 pm to
Flifhtaware strikes again

Hollub is not playing around. Impressive.
This post was edited on 5/5/19 at 4:58 pm
Posted by castorinho
13623 posts
Member since Nov 2010
86554 posts
Posted on 5/6/19 at 6:34 am to
They've also upped the cash portion of the offer. OXY shareholders vote no longer required.

quote:

Occidental Chief Executive Vicki Hollub expressed frustration with Anadarko's board in a letter Sunday that suggested growing tension between the two companies.
"We remain perplexed at your apparent resistance to obtaining far more value for Anadarko shareholders which has been expressed clearly through our interactions over the last week," she wrote. Occidental also objected to demands by Anadarko for three board seats as part of a deal.

Posted by The Egg
Houston, TX
Member since Dec 2004
83243 posts
Posted on 5/6/19 at 8:22 am to
It's extremely impressive what Oxy has pulled together with Buffet and Total. They may not get their prize in the end, but Hollub really is pulling out all the stops here.
Posted by castorinho
13623 posts
Member since Nov 2010
86554 posts
Posted on 5/6/19 at 8:33 am to
APC board to announce that they deem OXY's offer superior today, per report. Which starts the clock for CVX to respond within four days
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