Chevron CEO has proven he is “all hat no cattle”. Even at $76 Anadarko was a steal. It’s share price had been crushed mostly to due to having a large asset in Colorado and poor financial results of Anadarko. Now they will have to pay a premium to acquire another company whose share price has not been beaten down. MW you choked baby!
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any company ran by a woman is doomed..oxxy is headed for a death spiral now.
take the billion and run ,,free money ,hell yes
At CVX we were our failures on sleeve like Predators wear acid burns on face !!!! Proud to be Chevron just like mother of dragons.
I think you’re wrong, @2sfr. OXY needed this one more CVX did. The high premium OXY paid for APC was a desperate play and put all their chips on the table. It’s make or break for Occidental now.
MW gagged. You’re not going to get anything in the Permian at a “discount “. There are NO bargains to be had. He was badly outmaneuver by the OXY CEO. Anadarko was his best chance. Nice try though!
CVX dodged a bullet and walked away with a billion. CO currently a nightmare place if your in the energy game due to the "blueification" of the state.
CVX should wait a couple of years and buy Oxy.... :-)
If you hold either APC or OXY shares, seriously sell it all and sell it now.
This transaction will show analyst a lesson in supply/demand. M&A activities will slowdown and think twice before offering low bids.
As an Anadarko shareholder I’m glad the The Chevron CEO swallowed the olive! $65 or $76? Duh... Go OXY!
What a troll. Wirth made a good business decision. He could have let his ego take over like the Oxy CEO but chose to be data driven.
No shame in walking away from a deal that turned south, particularly with a free billion in your pocket. Knowing when to fold is as important as knowing when to push forward!
Whoever wrote this post is obviously a dullard with little foresight. By 2023 Oxy will either be sold or be nothing more than a shell corporation with a huge debt load and no remaining assets of any significant value. Growth is often good, but when it comes to heavily leveraged growth at any price, Hogs get slaughtered.
Apart from Mozambique Anadarko wasn't really that great. There's plenty of other companies with PB assets and their GOM assets weren't anything special.
Charma is a btch. You jerk around good employees it comes back to haunt you. This is the beginning of a long decline for chevron who will become the likes of a GE 10 years from now. A dinosaur company with 100 billion of debt and no marketable products
He spelled it out perfectly already, with "we will not erode shareholder value just to make a deal." He's an exceptionally smart businessman, and knows exactly how much he's willing to pony up for Anadarko or any of the other various companies that Chevron is sure to have their sights trained on. Meanwhile his firm is 1B richer and Oxy has to have almost perfect luck in the next few years just to survive.