Stock has fallen to $47. Market Cap has decreased to $35B (Anadarko market cap is also $35B). Was it suppose to work this way?
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One more mo--nic disaster to add to Oxys industry leading list. Don't worry, its a 'great' company. Honestly, it is.
Some people get stars in their eyes when the operate the big machines; better to tread ever so carefully when making eleven figure deals. The problem with today's oil and gas industry is many leaders don't act like the dollar signs really matter. They should be INCREDIBLY CAUTIOUS when making business deals of this magnitude. Oxy was not, plain and simple and now the domino's are not falling as planned. Look out below because the foundations will be first exposed, then cracks will begin to appear, then eventually the arrangement will falter and crumble under the weight of debt and industry cycles, while the leaders try to fix the issues, one after the other. In the end it will prove far more challenging to pull off then the ink on the contract would have the star gazers believe.
Nope, but anyone who was able to run the numbers could see that this would be a disaster, even before oil prices cratered. Oxy is in big trouble.