Energy Domain’s Post

Occidental Petroleum ( $OXY ) buy or sell recommendation is STRONG BUY: Occidental Petroleum employs about 12.6 K people. The company is managed by 48 executives with a total tenure of roughly 294 years, averaging almost 6.0 years of service per executive, having 261.88 employees per reported executive. Occidental Petroleum is selling at 63.81. That is -0.19 percent decrease. Today lowest is 63.53. https://lnkd.in/g3bv34my #hotstocks #investing #trading

𝐁𝐞𝐫𝐤𝐬𝐡𝐢𝐫𝐞 𝐇𝐚𝐭𝐡𝐚𝐰𝐚𝐲 𝐁𝐨𝐨𝐬𝐭𝐬 𝐒𝐭𝐚𝐤𝐞 𝐢𝐧 𝐎𝐜𝐜𝐢𝐝𝐞𝐧𝐭𝐚𝐥 𝐏𝐞𝐭𝐫𝐨𝐥𝐞𝐮𝐦 𝐭𝐨 𝐍𝐞𝐚𝐫𝐥𝐲 29% Billionaire Warren Buffett's Berkshire Hathaway Inc. has increased its investment in Oxy Petroleum, acquiring another 2.95 million shares. 𝑯𝒆𝒓𝒆'𝒔 𝒘𝒉𝒂𝒕 𝒚𝒐𝒖 𝒏𝒆𝒆𝒅 𝒕𝒐 𝒌𝒏𝒐𝒘: 1. 𝙉𝙚𝙬 𝙎𝙩𝙖𝙠𝙚 𝘿𝙚𝙩𝙖𝙞𝙡𝙨 Berkshire Hathaway now holds approximately 255.3 million shares, nearly 29% of Occidental's common stock, which is valued at around $15.37 billion. 2. 𝙍𝙚𝙘𝙚𝙣𝙩 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚𝙨 Berkshire paid about $176 million for the new shares in three separate purchases since last Thursday. 3. 𝙍𝙚𝙜𝙪𝙡𝙖𝙩𝙤𝙧𝙮 𝘼𝙥𝙥𝙧𝙤𝙫𝙖𝙡 In August 2022, Berkshire received U.S. regulatory approval to buy up to 50% of Occidental. However, Buffett stated that he had no plans to acquire the company entirely. 4. 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙄𝙢𝙥𝙡𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨 An acquisition could diversify Berkshire's energy portfolio, including utilities, electricity distributors, and renewable power projects. 5. 𝙊𝙘𝙘𝙞𝙙𝙚𝙣𝙩𝙖𝙡'𝙨 𝙍𝙚𝙘𝙚𝙣𝙩 𝙈𝙤𝙫𝙚𝙨 Last year, Occidental acquired Permian shale oil producer CrownRock Minerals, LP for $12 billion, strengthening its position in the largest U.S. oilfield. 6. 𝙈𝙖𝙧𝙠𝙚𝙩 𝙍𝙚𝙖𝙘𝙩𝙞𝙤𝙣 Occidental shares have seen a marginal increase this year and were up slightly in premarket trading on Tuesday. 𝑾𝒉𝒂𝒕 𝒅𝒐𝒆𝒔 𝒕𝒉𝒊𝒔 𝒎𝒆𝒂𝒏 𝒇𝒐𝒓 𝒊𝒏𝒗𝒆𝒔𝒕𝒐𝒓𝒔? Buffett's continued investment in Occidental Petroleum highlights confidence in the company's future and the broader energy sector. P.S. Repost this update for your network ♻️ Thank you! https://lnkd.in/gRtG96pp

Useful idiot: : a naive or credulous person who can be manipulated or exploited to advance a cause or political agenda. Are Albertans being set up in the role of useful idiot? "Whenever international oil and gas companies are heading for the exits or selling major properties in Canada, one company always seems to be at the doorstep, ready to move." I suspect that Albertans really need to unpack this statement and think critically about why international oil and gas companies are heading for the exits. Do they know something that we do not? I guarantee that they do. What Varcoe and Kennedy-Glans are not talking about is what we should be talking about, IMO. As stated often, I am not anti-O&G, not by a long shot. I do, however, believe that we need fairness and transparency and that everyone ought to be treated equally. And that means paying for pollution via a carbon levy (aka a pollution tax) and ensuring provisions are in place for reclamation. Soon after graduating from UofC in 2007, I went to work for a small consulting firm and was introduced to Statoil an international player which signaled an interest in Canada's oilsands and made a large investment. The investment was (very) short-lived, however, as Statoil pulled out (100%) in 2016. Shell Canada and Royal Dutch Shell divested in 2017/2018. Again, what is it that these international energy companies know that we do not? Is it that these investments require a massive investment and have a long term payback and that the returns are very uncertain in this brave new world that we are embarking upon? Is it that the only real way to earn a profit for shareholders is to leave the public holding the bag for the cleanup of these exhausted and/or insolvent organizations? As an Albertan having witnessed how poorly our government and the Alberta Energy Regulator (AER) have performed when it comes to conventional oil & gas, I am beyond concerned by this consolidation of Alberta's resources under one organization. The likelihood that Albertans and Canadians will be picking up the tab for these "Superfund" sites is increasing. Why would we believe for a moment that Murray Edwards, a man who has moved from Alberta to the United Kingdom in 2016 to avoid taxes, will have any issue with dropping these tar sands into the public's lap once they are no longer "economically viable"? Let's ensure accountability. This starts with the AER being transparent about the true clean-up costs and taking steps to have the shortfalls covered by industry...not current and future generations of taxpayers. Brian Jean Rebecca Schulz Danielle Smith #ableg

"APA Corp. agreed to acquire shale explorer Callon Petroleum Co. for $2.6 billion, the latest in a wave of deals reshaping the US oil landscape. The all-stock transaction equates to $38.31 per share for Callon and has been unanimously approved by both boards of directors, the companies said in a statement Thursday. It is expected to close during the second quarter. 'Callon has built a strong portfolio in the Permian Basin that is complementary to our existing Permian assets,' APA’s President and Chief Executive Officer John J. Christmann said in the statement. 'Increased scale will enable us to realize significant overhead and cost-of-capital synergies.' APA plans to retire Callon’s roughly $1.9 billion in debt, giving the deal an enterprise value of $4.5 billlion. APA shares fell 5.5% before the start of regular trading in New York. Callon shares, which closed at $33.65 on Wednesday, rose 5%." #shale #oilandgas #mergersandacquisitions #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance https://lnkd.in/g7za4FyR

I put the filter of market cap above 100 billion for Non-energy Minerals stocks of and it is interesting that only two companies managed to pass!! Mineral Group shares with a p/e of around 11-15 seem to be a safe investment. #nonenergyminerals #stockmarket #commodities #BHPLF #bhp

🔊A$83.3 Million Cash Sale of Blackspur Oil Corp - Binding Agreement HIGHLIGHTS ▶️Definitive agreements executed for the sale of 100% of Blackspur Oil Corp. to Astara Energy Corp. ▶️Total consideration C$75 million (A$83.3 million) with customary industry adjustments at completion for net debt ▶️Sale reflects a post-sale net cash backing of ~13 – 13.5 cents (A$) per share (after completion adjustments) ▶️Key conditions precedent to completion: ▶️▶️CE1 shareholder approval ▶️▶️Canadian Competition Act approval ▶️Following completion, CE1 intends to distribute no less than 85% of the sale proceeds to CE1 shareholders ▶️CE1 will continue as a listed company with production from the Paradise well in British Columbia and will review potential complementary new opportunities ▶️Parties aim to complete the transaction approximately 10 days after shareholder approval, but no later than 30 March 2024 Download the announcement here: https://bit.ly/47llblL Contacts: Glenn Whiddon Karl DeMong Mark Freeman #CE1 #shareholdervalue #capitalreturn #asxnews

Attock Petroleum earns Rs3bn profit in Apr-Jun quarter Attock Petroleum Limited (PSX: #APL) earned a profit after tax of Rs3.04 billion [EPS: Rs24.44] during the April-June quarter despite a slump in gross margins. That is up 15.9% compared to a profit of Rs2.62bn [EPS: Rs21.09] in the same period last year (SPLY) due to a significant jump in other income and a decline in finance costs. Read the full story at https://lnkd.in/eKApZSbk

Union Jack Oil plc (AIM:UJO, OTCQB:UJOGF) executive chair David Bramhill told investors the Wressle field continues to deliver robust revenues, bolstering the AIM-quoted producer’s strong balance sheet. The company, in a statement, reported that the 40% owned UK onshore oilfield has now generated more than $19 million net since August 2021 (when it came back online). Production averaged 530 barrels per day in the first quarter of 2024, with water cut reported at 24.3%, which sees it as ‘the UK’s second most productive onshore oilfield’. At this level, production remains comfortably above the forecasts previously provided by consultant ERC Equipoise. More at #Proactive #ProactiveInvestors #unionjackoil #oilandgas #oilexploration http://ow.ly/f4qz105pKug

 Permian Resources expects to turn-in-line (“TIL”) approximately 250 gross wells, with an average working interest of approximately 75% and 8/8ths net revenue interest of approximately 79%. The Company also expects its average completed lateral length during 2024 to be approximately 9,300 feet. Importantly, the Company’s capital budget is underpinned by an approximately 10% reduction in D&C costs per foot expected when compared to 2023. https://lnkd.in/gte8Hkqa

Warren Buffett’s Berkshire Hathaway purchased 2.95 million shares of Occidental Petroleum between June 13 and June 17 with a price range between 59.59 and 59.77, according to regulatory filings on Tuesday. Berkshire Hathaway now holds a nearly 29% stake in the oil producer. Meanwhile, oil prices have climbed note quite 10% since the start of June on an improving global demand outlook and expectations that major oil producers will keep supply tight. U.S. oil prices have now increased around 13% in 2024. Berkshire Hathaway substantially increased its stake in the international oil play over the past year, putting OXY among Buffett's top holdings. https://lnkd.in/gc36vgCj