Anadarko Petroleum Record Oil Sales Expected To Continue

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  • #19791
    ThePitBoss
    Participant

    The Woodlands, Texas oil and gas development company…

    [article]1349[/article]

    #20411
    ThePitBoss
    Participant

    Anadarko Petroleum Corp. (NYSE: APC) at Citigroup.started with a Buy rating and a $65 price target after $47.19 prior close.

    #20553
    TradersCom
    Keymaster

    Occidental tops Chevron bid for Anadarko

    Occidental Petroleum Corp. OXY offered to buy Anadarko Petroleum Corp. APC for $76 a share in cash and stock, topping the current offer for the company from Chevron Corp. CVX by about 20%. Occidental said it will pay Anadarko shareholders $38 in cash and 0.6094

    Occidental shares per share, a 20% premium over the value of the pending transaction announced on April 23. The deal would be valued about $57 billion, based on Occidental’s closing rice as of April 23 and including debt and the book value of non-controlling interest.

    “Occidental is a leader in using technological innovation to create value, and we will deploy our expertise to enhance the performance and productivity of Anadarko’s assets not only in the Permian, but globally, ” Chief Executive Vicki Hollub said in a statement.

    The deal would be accretive to earnings from year one and would generate $3.5 billion in free cash flow improvements by 2021, according to Occidental.

    Anadarko shares rose 9% premarket on the news, while Occidental shares fell 6%. Chevron was down 0.1%

    #20630
    TradersCom
    Keymaster

    CHEVRON WILL NOT INCREASE OFFER TO ACQUIRE ANADARKO
    CHEVRON INCREASING SHARE BUYBACK RATE BY 25% TO $5B PER YEAR
    CHEVRON TO RECEIVE $1B TERMINATION FEE‏.@hap317

    #20631
    TradersCom
    Keymaster

    [quote=”TradersCom” post=10443]CHEVRON WILL NOT INCREASE OFFER TO ACQUIRE ANADARKO
    CHEVRON INCREASING SHARE BUYBACK RATE BY 25% TO $5B PER YEAR
    CHEVRON TO RECEIVE $1B TERMINATION FEE‏.@hap317[/quote]

    Pre-market
    $CVX 121.40 +3.90 (+3.32%)
    $APC 73.90 −1.96 (-2.58%)
    $OXY 56.89 −3.32 (-5.51%)

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