BP just announced an Oil discovery in the Santos Basin, Brazil. Three times the size of Manhattan and a 500 meter oil column. Largest discovery for BP in the last 25 years. Exxon has 12 billion barrels of oil in Guyana, ENI 35 TCF gas in the Mediterranean , Total 100 TCF gas in East Africa... Where is OXY?? Want to be considered one of the big boys yet there is nothing behind the curtain... Oxy @$40...
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One of your managers just congratulated BP for their recent Brazilian deep water oil discovery. Did he do that because Oxy will never have such a press release or is he greasing the skids for his next job?
Too true. Vicki was tossed the keys to a well running machine with a strong balance sheet and growing dividend history thanks to Steve Chazen.
As Bill Parcells said "You are what your record says you are" and Vicki Holub has been an abject failure as a CEO from a performance perspective.
All her defenders seem to be employees who believe the primary function of a company is provide provide a fun environment, great pay and perks. Shareholders and profitability be damned.
The company should have not been anywhere near the purchase of Anadarko. What a foolish move. They had a great company focusing on their existing oil and gas assets. Sure we may have been bought out but it would have benefitted the shareholders. Last time I checked public companies are for the shareholders and not for the selfish corporate executives. If you don’t want to be accountable then go private and not public.
It is time to decide what you are. If carbon capture and chemicals are your future (and all of the published news would support this), sell the rest of the operations, pay off the debt and quit calling yourself a major oil and gas company. All VH crows about is carbon capture and efficient debt reduction. Without APC's portfolio you wouldn't be in the gulf of america, algeria, midstream, international exploration and domestic US (except the permian holdings you previously bought from Shell). No stomach for Colombia of Peru? Can't wait for the August 7th fireside chat. Much talking, no information. Oxy @ $35.
I guess it’s time for OXY to start finding the “grease”.