In a significant development shaking up the energy and petrochemical sectors, Warren Buffett’s Berkshire Hathaway Inc. is reportedly on the verge of acquiring OxyChem, the petrochemical division of Occidental Petroleum Corp., for approximately $10 billion. […]
HOUSTON, May 7 (Reuters) – Occidental Petroleum (OXY.N), opens new tab on Tuesday reported profit that beat analysts’ first-quarter consensus estimate and forecast second quarter oil and gas production would climb 7%. Profit fell to […]
Occidental Petroleum said on Wednesday production is expected to commence in the coming days in the eastern Gulf of Mexico (GOM) after some operations were shut for about five months. In November, the company had […]
(WO) – Axis Energy Services successfully deployed the oil and gas industry’s first fully electric well service rig on wells operated by Occidental. Axis’ EPIC RIG provides improvements in safety and efficiency, as well as […]
Daily Standup Top Stories Even the World’s Biggest Electric-Vehicle Market Is Slowing February 18, 2024 Stu Turley HONG KONG—Chinese electric-vehicle makers that enjoyed years of explosive growth now face a slowdown in domestic demand, spurring them to push […]
Direct air capture is a worthwhile investment, according to money manager BlackRock, which just invested more than half a billion of its clients’ dollars in the world’s largest facility for pulling carbon out of the […]
Right now in the energy space, M&A activity is resurgent for several reasons. The first is the global realization that you cannot make an iPhone from a wind turbine and that the ESG investing movement […]
World Oil (Bloomberg) — Hess Corp. was the high bidder in a U.S. auction for drilling rights in the Gulf of Mexico, which raised a total of $382 million from oil giants before the Biden […]
Michael and I love evaluating deals. Today is an excellent example of the M&A activity heating up in the oil and gas market. This deal between Occidental and CrownRock has some key takeaways, which we […]
Acquisition, valued at approximately $12.0 billion, generates immediate free cash flow accretion CrownRock’s well-positioned assets expand Occidental’s scale in the Midland Basin CrownRock’s development-ready inventory high-grades Occidental’s premier Permian Basin portfolio and increases low-breakeven inventory […]
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