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Title : Did Anyone Catch This? April 14, 2019
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Did Anyone Catch This? April 14, 2019

Long-term followers of the Bakken book know that Occidental once has a fairly large footprint in the Bakken. See "Bakken operators." At that link:

OXY

• October, 2015: announced; sold 300,000 Bakken acres for $500 million to Lime Rock Resources; 346 wells transferred, more than any other company in 2015;
• October, 2014: shopping its 335,000 Bakken acres for $3 billion
• January, 2013: Director, NDIC, says Burke County is edge of the Bakken; said major operator in Burke likely to pull out (in Burke County: OXY USA, Oasis, CLR, Cornerstone) 
• 2Q12 conference call: CEO did not know for sure, but thought it was 300,000+ net acres in the Bakken
• 277,000 net acres at end of 2011; 200,000 net acres earlier in 2011;
  
• Occidental bought Anschutz Bakken acreage in late 2010 (180,000)
• Prior to the acquisition, held 20,000 acres (by my reckoning -- I could be wrong) 
• Anonymous says OXY has two dedicated frack spreads
• 15 rigs, January, 2012; 13 rigs, February, 2012, but company says it expects to have 6 rigs by end of 2012; so this must be company-owned rigs vs contracted rigs? 

I noted early on that despite being in some of the best, Tier 1, acreage, Oxy never seemed to be able to get it together in the Bakken. And they left.

I tracked OXY wells at this post -- I think I "captured" almost everyone of OXY's wells in the Bakken. Very few, if any, were impressive.

Hold that thought.

Re-posting from the other day, regarding Chevron's move to buy Anadarko:

*****************************

Spoiler? OXY?

From same linked article:

Occidental Petroleum Corp. made a $70-per-share offer for Anadarko, according to a person familiar with the matter. But the deal would have been tougher for Occidental to pull off than for Chevron given its smaller size and narrower range of upstream expertise, potentially dragging down its share price.

 In case you missed it, this time in red, bold:

But the deal would have been tougher for Occidental to pull off than for Chevron given its smaller size and narrower range of upstream expertise.

It is interesting to track OXY through the "Bakken filter": https://themilliondollarway.blogspot.com/search?q=occidental.

http://bit.ly/2dZyQXu

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