One less suitor for Oxy now. Within a couple of weeks Pioneer and Hess bought.
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Any chance of Oxy buying something so it becomes even bigger and more difficult to be acquired?
I understand why Hess was acquired. To put Oxy into the conversation is laughable. Guyana is world class. Algeria is a sunset asset, Permian? … carbon capture??? Going to get tough before you are bought.
@8gdz+1peewozB
When I go visit the Oxy website it isn’t clear that Oxy is an oil and gas company.
The first thing you see is “Zero in” and their climate report. Scroll down and the next thing is DEI.
Further down the page is “Performance Production”, “Essential Chemistry” and “Carbon Innovation”
This is the exact text under performance production:
For more than a century, our high-performing teams have driven advancements in the production of energy. Today we’re applying our culture of innovation to help solve our planet’s most pressing environmental challenges. We have built safe, efficient operations that harness the power of large-scale CO2 storage technology to drive our enhanced oil recovery (EOR) programs. At the same time, we're taking concrete steps on the ground to reduce our emissions.
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There’s a brief mention of EOR, but that’s not Oxy’s core O&G business anymore. I don’t know if Vicki and Oxy didn’t get the memo that the majors are cutting back on their money losing renewables businesses. XOM and CVX didn’t buy PXD and HESS for their carbon capture/renewables/energy transition business. Think about that for a minute. Somewhere along the way Oxy lost the plot. I don’t feel great working for a company that is confused about its identity.
Is there a nice map of all the producing assets (op and non-op) for OXY? The OXY home page is a bit vague and not as simple as other companies. What basins is OXY producing oil and gas. Permian, Rockies, GOM, Ghana, Mid East (Oman/Qatar/UAE), Algeria. Anything else?
I sure hope you meant “Come on people”
The best thing about this site is no matter what the topic, some always see the opportunity to practice their insults. Doesn't add anything to the discussion, but a few are actually entertaining. Most though sound like they are written by teenagers. Come on man! Give us some better material!
Don’t worry be happy https://www.reuters.com/markets/deals/conocophillips-weighs-crownrock-bid-challenge-rivals-2023-10-26/
The real reason someone would is because of all the hidden talent here.
I don’t think they’d want to buy it for DAC since that’s not proven or producing cash flow. I would assume they’d want to buy OXY for the Reserves and Production.
Why would anyone want to buy Oxy? For DAC?
Like the chubby kid picked last for gym class: https://seekingalpha.com/news/4023038-oxy-petroleum-plunges-as-exxon-chevron-megadeals-remove-potential-buyers
Oxy merger with COP is not going to happen. It would be an acquisition if anything. The market caps are not even close.
Not going to happen. Oxy is safe for several years.
Conoco-Phillips could or maybe just merge with them. The old CEO from Anadarko Al Walker is on their board. He at least knows the Anadarko side of Oxy.
who could still buy oxy? Or are we going to buy someone else?