Any expansion in oil or gas production? According the website it seems like it is all about zero in. Whats up with this. The message is way off.
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All I see is the push towards carbon capture.... This is great long term goal but I have not read about Oxy's success in finding hydrocarbons. GOM has been very quiet... Any good news? Is Oxy going to be a carbon capture, chemical company?
Oxy doesn’t know how to explore. They have an engineer running exploration and are too risk averse. There hasn’t been much exploration success in GOM post-APC.
The question wasn't if Oxy is a good place to work... Salary and benefits are what we all want. QLBh link tell's the tale. Also study the quarterly review slides and see just how much of the annual budget is allocated to new field exploration. Oxy is good company if you are in a core development team (ie GOM) , not so much in exploration....
@Logq+1knvQLBh The COC was nice if you were about to retire or had another job lined up. But I have to say Oxy has pulled it off in the end. Many LAPC are still on the job getting a good salary and benefits. The young ones I have worked with are just keeping it going at the new Oxy. The Woodlands tower is still open and going storong with the GOM team, so not much changed there. I went from Greenway to the tower and that has worked out for me as well.
This article may help you
https://finance.yahoo.com/news/occidental-ceo-says-stock-buybacks-184029344.html
At the time of the merger it was clear that Oxy did not have the money to pay off the debt and spend significant cash to find new O&G. Maintenance budgets for the next 3-5 years. A huge reason why I took the COC package (plus the commute from the Woodlands to Greenway Plaza!)....
US oil companies aren’t expanding. They are managing costs and keeping production flat.
Not ontensionally. Occidentally…