Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization.
20/01/11Occidental Petroleum takes 40% interest in massive Shah Gas Field in Abu Dhabi
22/10/09Occidental Petroleum production and sales growth increases in third quarter
Recent Sector News
Whitecap Resources (TSE:WCP) is reducing its 2015 capital budget by another 18 percent to $200 million from its last guidance in December, in light of the continuing decline in commodity prices.
Cenovus Energy (TSE:CVE) (NYSE:CVE) has lowered its 2015 capital spending budget even further from December levels, promising to defer another $700 million in expenses originally planned for this year due to continued weakened oil prices.
The company said that in addition to cost reductions, a new US$6 million loan and doubled gas production in Kazakhstan, it has reached a deal to restructure its Georgian project and remove its current funding obligations of about US$4 million under the farm-out signed in July 2013.
The Canadian company, with assets in southeastern Alberta, announced a financial update and highlighted its intent to maintain its dividend for 2015, supported by a strong hedging book, the "best-in-class decline rate" (10-12 percent) and clean balance sheet.
Hillcrest Resources (CVE:HRH) has received initial coverage from small-cap focused corporate markets firm SeeThruEquity, which gave the oil and gas explorer a 46 cent price target on the back of a major deal announced late last year.
The company, which has assembled a New Zealand-focused land package totaling 2.8 million acres over three basins, is now in the process of bringing additional production onstream at its Cheal-E field, while re-entry of the Cardiff deep gas prospect nearby is anticipated in several months.
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