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Occidental has previously sold off pipelines and coastal terminals. Oxy has yet to disclose details on potential job cuts.She has contended that Oxy’s execution and efficiency, especially in the Permian, will more than pay for the Anadarko deal in the years ahead.Like us on Facebook to see similar storiesThat nullified any need for a shareholder vote on the Oxy side, which upset a lot of shareholders. Factors that could cause actual results to differ include, but are not limited to: Occidental’s ability to consummate the proposed transaction with Total; the conditions to the completion of the proposed transaction with Total; that the regulatory approvals required for the proposed transaction with Total may not be obtained on the terms expected or on the anticipated schedule or at all; Occidental’s indebtedness, including the substantial indebtedness Occidental is incurring in connection with the transaction with Anadarko and the need to generate sufficient cash flows to service and repay such debt; Occidental’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction contemplated by the transaction with Anadarko or the proposed transaction with Total; the possibility that Occidental may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate Anadarko’s operations with those of Occidental; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the transaction with Anadarko; the retention of certain key employees of Anadarko may be difficult; that Anadarko and Occidental are subject to intense competition and increased competition is expected in the future; general economic conditions that are less favorable than expected.Occidental is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America.
Creates a $100+ Billion Global Energy Leader with 1.3 Million Boe/d of Production to Drive Significant Value and Returns for Occidental and Anadarko … “The company does have a good track record of being able to sell noncore assets at good prices,” said Carol Levenson, director at corporate bond research firm Gimme Credit.What Hollub doesn’t want to sell is the merger’s top prize, Anadarko’s acreage in the top U.S. shale field, the Permian Basin. Anadarko shareholders are receiving $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock in the …
Additional factors related to the transaction between Occidental and Anadarko appear in the definitive proxy statement/prospectus that is a part of Occidental’s registration statement on Form S-4, as amended, which was declared effective by the SEC on July 11, 2019, in connection with the transaction between Occidental and Anadarko.Because the factors referred to above could cause actual results or outcomes to differ materially from those expressed or implied in any forward-looking statements, you should not place undue reliance on any such forward-looking statements. In furtherance of this proposal and subject to future developments, Occidental (and, if a negotiated transaction is agreed, Anadarko) may file one or more registration statements, proxy statements, tender offer statements or other documents with the SEC.
That could make it less likely that the company would sell any of its onshore or pipeline operations, he said.“The longer they take” to reduce debt from the deal, “the longer they stay in the doghouse with investors,” said Rowland.Anadarko’s Colorado shale operations will likely remain with the Occidental for a lack of ready buyers. Cravath, Swaine & Moore LLP is serving as legal counsel.Because the factors referred to above could cause actual results or outcomes to differ materially from those expressed or implied in any forward-looking statements, you should not place undue reliance on any such forward-looking statements. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization.
Total would get access to around over 3 billion boe of resources and Occidental would be able to strengthen its post completion balance sheet by monetising immediately the international assets of Anadarko. Occidental’s midstream and marketing segment purchases, markets, gathers, processes, transports and stores hydrocarbons and other commodities.
Occidental’s acquisition of Anadarko has been unanimously approved by the Boards of both companies, and the Anadarko Board of Directors unanimously recommends that Anadarko shareholders approve the transaction with Occidental. Actual results may differ from anticipated results, sometimes materially, and reported or expected results should not be considered an indication of future performance. This presentation relates to a proposal which Occidental has made for an acquisition of Anadarko.