https://www.hartenergy.com/exclusives/exxon-open-ma-heels-pioneer-deal-213707
20 replies (most recent on top)
@jm A buyout may actually be a legacy.
The CEO who destroyed billions in value and even pulled off the Oracle of Omaha losing money. Not much of a legacy
Let’s hope for high 30’s. Come on baby make some money for papa.
Stock price is slipping post quarterly review. Still have faith Oxy will be in the high 30's soon.
A great few days.... Another 8 dollars to the stock price and I'm golfing par...
@jm+1k203gdv0 : spot on
Walker was a finance guy, brought in late in the day. He was not an oil finder and relied on his bobblehead VP's and middle management to do the right thing. Multiple failures in West Africa, the Colombia ultra deep water project (still not drilled) and gas (not oil) in East Africa were the straws that broke APC's back. Walker was totally disillusioned with exploration and felt he could just drill US Domestic development wells for the foreseeable future. APC was a good company, poorly managed at the end. Poor management and lack of focus will be Oxy's downfall too. Can only sell so much low hanging fruit before it starts hurting....
Always a rumor of a buyout. For the last 20 years at APC there seemed to always be a buyout on the horizon until it happened in 2019. Al Walker was the reason for APC being sold, but Vicki has more invested in Oxy than Walker ever did with APC. She has too much on the line to let a buyout happen. Sure she would get a ton of money, but it is ego and her legacy that keeps her going. The BOD has already proved they will let her control the future of Oxy. Once she retires there might be a better chance of a buyout, but as long as she is CEO it will not happen.
$55 billion dollars to buy APC's mediocre permian assets... Even APC started to see how bad they were towards the end... Too bad you didn't do due diligence before stepping up. Chevron did the work and saw value in other assets (some that were sold early and cheap)... You will keep throwing stuff overboard until you are finally bought.
No one to bail out toxy. Toxy will sell off assets one by one to stay afloat.
@aw Trumps FTC would approve anything.
its happening
@ed
Couldn't agree more with your post. Plus, everyone seems to have forgotten that COP just purchased Marathon and is in no mood to add more now. Besides, what does Oxy bring to the table?
Oxy, like Bp and shell went all in on esg. Now it’s time to pay the piper. In Oxy’s case, I suppose it’s the second time to pay the piper.
There will be no overlap in assets or people. Conoco is a professional major with the ability to find oil and add shareholder value in a safe way and with respectable people. None of that overlaps with Oxy on any level.
Has anyone thought about ConocoPhillips buying up Oxy. This would be a great addition to ConocoPhillips. Not much overlap in assets.
You have nothing that Exxon is looking for.... You will be bought and carved up by a corporate raider.
Clueless.
Honestly, I don’t see a better way to solve Oxy’s problems than this.
Exxon buying Oxy would be a similar size deal, but there's no way the FTC would approve it.
- insert “its happening” gif*