“The company does have a good track record of being able to sell noncore assets at good prices,” said Carol Levenson, director at corporate bond research firm Gimme Credit.What Hollub doesn’t want to sell is the merger’s top prize, Anadarko’s acreage in the top U.S. shale field, the Permian Basin.

Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. The company’s view of pipeline assets, said finance chief Cedric Burgher to analysts, is “you don’t need to own” them, only to have the right to use them.“It just adds to the risk of a deal. “We’re excited about the future of Occidental in The Woodlands.”Please give an overall site rating: These statements are typically identified by words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes. Occidental’s acquisition of Anadarko has been unanimously approved by the Boards of both companies, and the Anadarko Board of Directors unanimously recommends that Anadarko shareholders approve the transaction with Occidental. Further, any forward-looking statement speaks only as of the date of this press release and, unless legally required, Occidental does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise.Occidental is confident in its ability to realize the full potential of the transaction while maintaining a strong balance sheet, investment grade credit rating and its current dividend. Oxy’s stock has fallen nearly 30 percent since the bidding war became public in April.Occidental Petroleum has little time for celebration. Further, any forward-looking statement speaks only as of the date of this release and, unless legally required, Occidental does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise.Any statements in this release about Occidental’s expectations, beliefs, plans or forecasts, including statements regarding the transaction between Occidental and Anadarko or the sale of certain of Anadarko’s assets to Total, benefits and synergies of the transactions and future opportunities for the combined company and products and securities, that are not historical facts are forward-looking statements.

Her challenge will be to balance such sales with the need for their cash flow to pay debt and dividends.“An acquisition is more often viewed as a confession of poor drilling locations and a failure of prior strategy,” Dittmann said.Reporting by Jennifer Hiller; Editing by Brian ThevenotPotential buyers would be the handful of large companies with deepwater experience, including Royal Dutch Shell, Exxon Mobil, Total and Chevron.Several major oil companies would be willing to buy the Gulf of Mexico offshore assets, or any Permian acreage if Occidental decided to sell some of its long-held properties. To the extent holdings of Anadarko securities have changed since the amounts printed in the proxy statement for the 2019 Annual Meeting, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Occidental offered US$38 billion for Anadarko, 80 percent of it in cash, in addition to the assumption of Anadarko’s debt.

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