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Momentum Minerals agrees to hand off oil and gas royalties to Sitio for $224M

Emily Burleson — Thu, 30 Jun 2022 19:52:26 +0000

Exploration and production operators including Pioneer Natural Resources, ConocoPhillips (NYSE: COP), EOG Resources Inc. (NYSE: EOG) and Occidental Petroleum Corp. (NYSE: OXY) hold permits to produce oil or gas on Permian land subject to Sitio Royaltie...

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Houston tech firm Cemvita Factory raises Series A capital

Chris Mathews — Thu, 12 Aug 2021 17:20:47 +0000

A Houston-based company using biotechnology processes to decarbonize industrial sectors closed a Series A funding round.

The financing was led by private investment group 8090 Partners, Cemvita Factory said. Oxy Low Carbon Ventures, a subsidiary of Ho...

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How a Houston oil giant is pushing the needle on commercial-scale direct air capture

Chris Mathews — Thu, 15 Apr 2021 15:53:25 +0000

For a transition to a renewable energy infrastructure to occur, we have to develop commercial-scale clean technology. Many energy experts agree that such a transition will require the assistance of the oil and gas sector, and when it comes to funding c...

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Occidental Petroleum doesn’t plan oil, drilling growth after $8.4B loss

Greg Avery — Wed, 12 Aug 2020 20:09:25 +0000

Occidental Petroleum Corp. (NYSE: OXY) isn’t looking to bring oil and gas production back to where it was before the Covid-19 pandemic and oil price collapse hit, the company said after posting an $8.4 billion second-quarter loss.

The Houston-based co...

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Occidental Petroleum extends Houston HQ lease for nearly 1M square feet

Jeff Jeffrey — Thu, 18 Jun 2020 19:35:30 +0000

One of the largest oil companies based in Houston has extended its lease for nearly 1 million square feet of office space at Greenway Plaza.

Occidental Petroleum Corp. (NYSE: OXY) has executed an amendment to its 972,145-square-foot lease at Three and...

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Occidental to put some assets slated for Total deal back on the market

Olivia Pulsinelli — Mon, 18 May 2020 13:32:57 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) has completed the sale of some of its assets in Africa to France-based Total S.A. — but others will have to go back on the market.

When Oxy's final offer to acquire Anadarko Petroleum Corp. was anno...

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Occidental reports $2.2B net loss, trims spending again

Olivia Pulsinelli — Wed, 06 May 2020 13:42:48 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) took a hit in first-quarter results and reportedly is looking into new options to reduce its roughly $40 billion debt load.

Oxy reported a net loss attributable to common stockholders of $2.2 billio...

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CEOs of Sysco, Houston energy cos. among appointees to Trump’s Economic Revival Industry Groups

J. Jennings Moss — Thu, 16 Apr 2020 13:33:32 +0000

The Great American Economic Revival Industry Groups that President Donald Trump announced April 14 include some high-profile Houston business leaders.

Kevin Hourican, CEO of Sysco Corp. (NYSE: SYY), is part of the agriculture group, while Ryan Lance, ...

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Occidental Petroleum shakes up CFO role, SVP of strategy departs

Olivia Pulsinelli — Fri, 03 Apr 2020 23:31:32 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) has named a new CFO, the latest leadership change the oil and gas producer has disclosed in recent days.

Robert Peterson was named senior vice president and CFO on April 3, according to a filing wit...

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Occidental Petroleum, Carl Icahn reach deal over board directors, other changes

Olivia Pulsinelli — Wed, 25 Mar 2020 14:39:11 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) and billionaire activist investor Carl Icahn have reached an agreement ending a nearly year-long conflict.

The deal adds three Icahn-designated directors to Occidental's board, according to a March ...

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Occidental Petroleum slashes spending again, cuts salaries

Olivia Pulsinelli — Wed, 25 Mar 2020 12:43:16 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) is cutting pay for employees and executives in an effort to weather the drastic drop in oil prices.

That's according to the Wall Street Journal, which reviewed an internal memo from the oil and gas...

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It’s official: Occidental Petroleum brings former CEO back as chairman

Olivia Pulsinelli — Tue, 24 Mar 2020 12:44:08 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) announced March 24 that former CEO Stephen I. Chazen has been named chairman of its board of directors.

Chazen currently is chairman and CEO of Houston-based Magnolia Oil and Gas Corp. (NYSE: MGY),...

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Occidental, Icahn reportedly near agreement on board seats

Olivia Pulsinelli — Mon, 23 Mar 2020 13:04:53 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) and billionaire activist investor Carl Icahn reportedly are close to reaching an agreement that involves seats on the oil producer's board of directors.

People familiar with the matter told the Wall...

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EOG cuts spending amid pandemic, oil price plunge; Exxon considers its own cuts

Olivia Pulsinelli — Tue, 17 Mar 2020 13:02:43 +0000

EOG Resources Inc. (NYSE: EOG) is the latest Houston-based energy company to cut 2020 capital expenditures, and Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM), which has a massive presence in Houston, is considering cuts as well.

A rapid drop in oi...

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Oxy makes $1B spending cut, slashes dividend after oil prices plunge

Joshua Mann — Tue, 10 Mar 2020 17:41:41 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) has cut its planned spending for the year by more than $1 billion.

The company will spend between $3.5 billion and $3.7 billion in 2020, down from previous estimates between $5.2 billion and $5.4 bi...

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Occidental Petroleum expands footprint at Houston HQ

Olivia Pulsinelli — Tue, 04 Feb 2020 20:18:36 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) is adding more than 90,000 square feet to its existing headquarters, just a month after Oxy made another noteworthy real estate transaction in the Houston area.

The oil and gas company inked a long-...

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PwC report: 2019 saw fewer, smaller energy deals than prior year

Joshua Mann — Fri, 24 Jan 2020 14:24:16 +0000

Although Houston was host to the largest oil and gas merger of the year, deals across the space were down in 2019 by total value, volume and average size.

Of the seven deals in 2019 valued over $5 billion — so-called megadeals — four of them involved ...

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Occidental cutting jobs in wake of Anadarko acquisition

Olivia Pulsinelli — Thu, 09 Jan 2020 14:03:54 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) started notifying employees this week that it will cut jobs.

The company has been offering voluntary employee buyouts after acquiring The Woodlands-based Anadarko Petroleum Corp. in a $55 billion de...

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Occidental, Western Midstream Partners take steps to separate MLP into standalone co.

Olivia Pulsinelli — Mon, 06 Jan 2020 14:16:18 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) and The Woodlands-based Western Midstream Partners LP (NYSE: WES) announced on Jan. 6 several steps they've taken to start separating.

Occidental gained control of the master limited partnership via...

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Occidental adds former Schlumberger CEO to board

Olivia Pulsinelli — Thu, 02 Jan 2020 20:29:52 +0000

Houston-based Occidental Petroleum Corp. (NYSE: OXY) will add Andrew Gould to its board of directors effective March 1, according to a Jan. 2 press release.

The appointment comes amid billionaire activist investor Carl Icahn's efforts to replace memb...

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