Seeing lots of 2nd tier GoA acquisition players both in the office and some have made it offshore. This is not platform tie back or host opportunities. What GoA assets are on the market? Does the strategy to simplify and improve asset quality make sense?
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please sell GOA, they are hard to work with
COP is digesting what they just ate... Working on their own layoffs.
The one you need to be worried about is COP, they run lean & will easily be able to digest the Marathon purchase by end of 2026. So if the stock doesn’t start going vertical they are coming. They love production, COP bought the other half of APC acreage in the Delaware (She’ll non-op) for Pennie’s during covid… right after they bought Concho, also for nickels. I’m sure that Concho Midland basin acreage, fits very well with the newly acquired CrownRock & when Delaware + Midland combined that would make a Permian behemoth
Oh & we are all laid off in that scenario with noncore sold for scraps
I passed on Chevron since they recently digested HESS.
I think Chevron as well since Buffett has a pretty hefty investment in Chevron. They buy Oxy and Buffett’s Oxy investment moves over to Chevron. Chevron is a lot more stable than Oxy and he gets a more secure investment all around. Back in 2023 word was Chevron was looking at Oxy pretty hard, and now with the OxyChem sale the Oxy debt will be reduced to a manageable amount. I would think it would happen the first part of 2026 if it does at all. Oxy stock is cheap right now so maybe sooner. Many Oxy employees will be out of work if Chevron were to acquire Oxy.
It’s more likely Chevron buys us not Exxon actually.
Not sure why Oxy paid so much for APC just to ultimately become the company we couldn't keep afloat. Hope the mediocre Permian assets were worth this. You will sell most/all of the APC assets, your chemical division and possibly the DAC. Exxon will buy the rest of your domestic production and that will be that...
Breakeven of oil from GOA assets are the lowest. They are cashcow. They should sell permian eor.
@r7 It is an unrelated incident that has no bearing on Oxy today. There was no one, repeat no one, in management at Piper Alpha that is in management today. Do the math. It occurred in a 1988. Where were you?
@r7 Wrong. Prove your point. But you can’t.
This makes sense. Sell off the minor pieces. At the end, sell what is left (Permian mostly) to BH.
The executive primarily responsible for making the lives of any legacy APC and many legacy Oxy employees working GOA or INTL miserable worked Piper Alpha when it burned. You can’t pretend that’s some unrelated incident that has no bearing on Oxy today.
@q4+1k81a9fzm
What upside?? 😂. The leases they have been acquiring around Boomvang? Our crackpot management team has a field of dreams strategy…if you lease blocks near our cr-ppy infrastructure, the oil will come.
We only have 3, maybe 4 hubs in the GoA with any value. Opex is through the roof, production is declining and there is a lot of P&A liability. We are going to have to pay the piper (alpha) soon.
@jv the only real genius move I know of is the move they made when they handed you your pink slip. Now those were good times.
@g7 whether or not offshore operations are Occidental’s “forte” has nothing to do with Piper Alpha, which happened 37 years ago. When it occurred, Vicky was 28 years old, most of the senior staff were in school or just getting out and starting their careers, and other lower level managers were learning their multiplication tables in school. Oxy is, for better or worse, a completely different company today, with a completely new management and different staff. But you know that. The fact that you bring it up really just shows how petty you are.
Many of the fields are at the end of their life. Sell the “upside” and let them deal with the rusting infrastructure.
They used to make sound business decisions. Maybe not so much anymore.
Lots of potential for damage and poor decisions by Oxy on this. Looking at the genius move made in ND as well as the Anadarko purchase. I can see good potential for more damage to the company that should have gone a long time ago. Hoping the worst for the company and people who deserve it. You wont make it in any other company given your culture, attitude and track record. Good times. Good times.
Just think GoA P&A liability and availability of intervention vessels. This alone should be reason to bail out…Offshore is not Oxy’s forte….just think Piper Alpha…
Is getting rid of all GOA assets and concentrating on the Permian putting all your eggs in one basket? Let’s hope that basket is strong.
That probably will be the best decision. Concentrating on Permian. Oxy wanted to get rid of GOM right after the takeover but the market tanked and now we just live with this.
@bm the woodlands building is already sold
Oxy was never supposed to be back in the Gulf after they pulled out. It seems logical they may sell to reduce the debt even more and get rid of the Woodlands building and people at the same time. Then go back and buy someone else to beef up production and reserves.
The below is a good read, so keeping the GOA might be best, and sale something else.
https://www.msn.com/en-us/money/markets/u-s-oil-growth-shifts-from-shale-to-gulf/ar-AA1OJX9X?ocid=BingNewsSerp