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The Egg
LSU Fan
Houston, TX
Member since Dec 2004
72525 posts
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re: OXY buying APC for 57B
for oxy to beat out cvx for a play like anadarko is wow


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castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
57709 posts

re: OXY buying APC for 57B
quote:

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.
Yeah it's pretty fascinating. Seems like a Buffet took them to the cleaners though. That's expensive capital.


The Egg
LSU Fan
Houston, TX
Member since Dec 2004
72525 posts
 Online 

re: OXY buying APC for 57B
quote:

Anadarko Petroleum Corp.’s fleet of corporate jets is high on Occidental Petroleum Corp.’s list of things to sell if its takeover bid for the shale explorer succeeds.

Occidental executives racked up more than 11,000 miles (17,700 kilometers) on the corporate jet in the past two weeks hopscotching between Houston, Paris and Omaha, Nebraska, to line up support for its $38 billion buyout. Even so, Anadarko’s four-plane fleet may be a tad excessive.

“We don’t think we need all of those, and we can reduce that along with obviously people in duplicate offices and real estate,” Occidental Chief Financial Officer Cedric Burgher told analysts during a conference call on Monday.
LINK


thegreatboudini
McNeese State Fan
Member since Oct 2008
4157 posts

re: OXY buying APC for 57B
This is like that highest stakes episode of shark tank I’ve ever seen.


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60
GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
12953 posts
 Online 

re: OXY buying APC for 57B
Chevron is quoted as saying the wont raise their offer. Will take the billion dollar penalty and target another company. Will be interesting to see. The shale assets is what the main prize is. It will be interesting to see who the next midsize shale operator is up next.


castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
57709 posts

re: OXY buying APC for 57B
Chevron is officially on the clock. Up the bid or walk away with a very nice 1bil consolation price and focus on the parsleys, diamondbacks and devons of the world.
This post was edited on 5/6 at 6:25 pm


TigerV
Member since Feb 2007
1427 posts

re: OXY buying APC for 57B
This was definitely an interesting last few weeks. Knowing people at anadarko, this has been very difficult for many of them, as they knew that that at least had a chance to keep some jobs with the chevron deal. Oxy will be a new story. Also, living in the Woodlands, this bring substantial questions regarding the anadarko towers. Does Oxy move up north or they ultimately vacated?


ragincajun03
LA-Lafayette Fan
Energy Capital of the World, TX
Member since Nov 2007
11686 posts

re: OXY buying APC for 57B
Energy Corridor.

Also, interestingly, Anadarko for the past half year has been constructing a brand new Permian-Midland office building just across the street from Oxy and Chevron’s recently constructed buildings. Weird triangle between them three at that location now.
This post was edited on 5/7 at 10:45 am


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ShaneTheLegLechler
Houston Astros Fan
Inside the Mind of a Greg Jennings
Member since Dec 2011
47396 posts

re: OXY buying APC for 57B
Oxy bought and is renovating Conoco’s old campus on I-10


castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
57709 posts

re: OXY buying APC for 57B
CVX out


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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
12953 posts
 Online 

re: OXY buying APC for 57B
Yup, wonder of they have a backup company already in mind? Liable to see a frenzy with some of the other bigs to get the top shale companies.


ragincajun03
LA-Lafayette Fan
Energy Capital of the World, TX
Member since Nov 2007
11686 posts

re: OXY buying APC for 57B
Take that cool extra $1B and put it towards Concho, Diamondback or Parsely.


TigerDog83
LSU Fan
Member since Oct 2005
6691 posts

re: OXY buying APC for 57B
Have to figure chevron would have been able to integrate the gom and Africa assets much better than oxy. If I’m an oxy shareholder I’m running for the hills. Smart move by cvx not to overpay for some marginally profitable shale oil assets here.


ragincajun03
LA-Lafayette Fan
Energy Capital of the World, TX
Member since Nov 2007
11686 posts

re: OXY buying APC for 57B
Oxy already struck a deal to sell the African assets. GOM, current production, might be something to keep??


TigerDog83
LSU Fan
Member since Oct 2005
6691 posts

re: OXY buying APC for 57B
Oxy hasn’t operated in deepwater in a long time so don’t see how those assets will help them other than to sell them. Cvx could have actually made the African stuff profitable with their experience in lng and presence in it.
This post was edited on 5/9 at 10:06 am


GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
12953 posts
 Online 

re: OXY buying APC for 57B
Yea I was wanting to get the cvx stock out of the deal, not very interested in oxy stage, may sell and run with the money.


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theOG
Oklahoma Fan
Member since Feb 2010
7724 posts

re: OXY buying APC for 57B
quote:

Oxy already struck a deal to sell the African assets. GOM, current production, might be something to keep??


That's what I came here to ask too. Will Oxy keep the deep water program alive?


GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
12953 posts
 Online 

re: OXY buying APC for 57B
No, will sell it off.


theOG
Oklahoma Fan
Member since Feb 2010
7724 posts

re: OXY buying APC for 57B
Gotcha.

My in laws run an off shore service company. I know the CVX bid had them nervous, but they were alright with OXY.
This post was edited on 5/9 at 11:29 am


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waiting4saturday
LSU Fan
Covington, LA
Member since Sep 2005
5467 posts

re: OXY buying APC for 57B
quote:

Take that cool extra $1B and put it towards Concho, Diamondback or Parsely.


Why not all 3?


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