April 12 agreement<\/a>\u00a0to buy The Woodlands, Texas-based Anadarko for $65 a share in stock and cash.<\/p>\nKey Highlights<\/h3>\n
Andarko\u2019s assets include operations in the Permian Basin in West Texas and New Mexico. The world\u2019s fast-growing oil major patch, the Permian has helped to turn the U.S. into a net exporter and become a bigger producer that Saudi Arabia. Chevron earlier this year unveiled ambitious growth plans for the Permian. The Occidental offer may not be as appealing as Chevron\u2019s to Anadarko shareholders despite the higher price. Occidental\u2019s smaller size and balance sheet compared with Chevron mean there may be more uncertainty over its prospects of completing a deal. Also, it\u2019s not immediately obvious how Occidental would fund Anadarko\u2019s giant liquefied natural gas plant that\u2019s being developed in Mozambique. The project may have to be sold, adding another layer of uncertainty.<\/p>\n
Market Reaction<\/h3>\n
Anadarko shares rose 15 percent in pre-market New York trading.<\/p>\n","protected":false},"excerpt":{"rendered":"
Occidental Petroleum Corp. triggered a bidding war for Anadarko Petroleum Corp. after making a $57 billion (\u00a344bn) counter-offer in attempt to break up a proposed takeover by Chevron Corp. Occidental said Wednesday…<\/p>\n","protected":false},"author":1,"featured_media":3138,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[46,48,57,90,96,107,113,137,139,160,174,183,184,201,202,209,230,232,233,244,246,249,256,267,277,279,288],"class_list":["post-3120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-aramco","tag-athens","tag-baroudi","tag-democracy","tag-doha","tag-embargo","tag-energy-peace","tag-gas","tag-gazprom","tag-international-maritime-disputes","tag-lebanon","tag-maritime-boundaries-east-mediterranean","tag-maritime-disputes","tag-offshore","tag-oil","tag-opec","tag-poverty-alleviation","tag-putin","tag-qatar","tag-rosneft","tag-roudi","tag-russia","tag-saudi","tag-straddling-hydrocarbons-reserves","tag-total","tag-trump","tag-usa"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/3120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3120"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/3120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/3138"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}