Tuesday, August 20, 2013 2:33:05 AM
All over the ME, Oxy has failed miserably. Abu Dhabi, they're overspent in the project they took over from Conoco (CoP)and that contract is horrible and the reason CoP walked out; Bahrain is set for another disastrous year of production and net loss in npv, spending almost $1 BB and loss of production...aka moneypit!; Oman and Qatar, neither have reached production targets and they have clearly demonstrated they have a lack of project controls. So investing more money to increase production (probably to the targets they originally claimed) is their goal, meaning with the PSA's they have in place, the payback period just got extended. This, coupled with the new impending company structure where many believe the company will spin off the ME assets and ultimately sell it...spending another $3BB??? For what?
Is this part of the money they set aside to buy back shares? Be interesting to know where this capital is coming from.....
With all that said, I think Oxy is a good buy because of the price dropping....my price is set and my buy order is in at that price. For now, Wall Street and investors are sending a message to the company to communicate and not just fluffy pr's..... the drop in share price is the message....the good news will be cheaper shares and with the company looking at buying back shares...they'll bounce back quickly.
Personally, I'd like to see Oxy sell out of the ME. It was a nice thought, and old connections made it possible. But they installed the wrong leadership and they simply have not delivered. And not delivering is costing the company money! The contracts (PSA's) are not good (Abu Dhabi and Bahrain are prime examples of this and if Oman and Qatar mirror this.....spending $3 BB more is not worth it) and realistically wont be renegotiated because the government's are making money on it.....why renegotiate!
Again, I have a buy order in and my price is set. I see continual drop with Oxy until they publish their full plan. This message, spending $3BB more in the ME....not good...
Recent OXY News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:35:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:35:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:35:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:34:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:34:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:34:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:34:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:33:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 11:33:42 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 08:19:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:17:25 PM
- Occidental Announces First Quarter 2024 Results • GlobeNewswire Inc. • 05/07/2024 08:15:01 PM
- U.S. Index Futures Mixed in Pre-Market Tuesday, Oil Dip • IH Market News • 05/07/2024 11:47:40 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 09:18:44 PM
- Occidental Announces Dividend • GlobeNewswire Inc. • 05/01/2024 04:30:58 PM
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- 1PointFive and AT&T Announce Direct Air Capture Carbon Removal Agreement • GlobeNewswire Inc. • 03/13/2024 12:00:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:11:49 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:11:38 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:11:26 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:11:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:11:04 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:10:53 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:10:42 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 02:10:31 AM
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