Occidental Petroleum Corp., the oil and natural gas producer on the brink of a shareholder vote that may eject longtime Chairman Ray Irani, said fourth-quarter profit fell as declining overseas production pared sales.
Noble Corp., the world’s second- largest offshore oil driller based on fleet size, agreed to buy FDR Holdings Ltd. from a private equity fund managed by the Carlyle Group and Riverstone Holdings LLC, valuing the drilling company at $2.16 billion.
BP Plc , the U.K. company battling a record oil spill in the Gulf of Mexico, agreed to sell assets in North America and Egypt to Apache Corp. for $7 billion as part of its plan to raise cash to fund liabilities.
BP Plc may reach an agreement as soon as next week to sell assets including half its stake in Alaska’s Prudhoe Bay field to Apache Corp . for $10 billion to $11 billion, according to two people familiar with the matter.
Occidental Petroleum Corp ., the largest onshore crude producer in the continental U.S., agreed to pay $3.2 billion to expand oil and gas holdings in Texas and North Dakota as it announced a separate deal to exit Argentina.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon has been adding oil fields to his personal holdings faster than he can find cash to drill them. He’s steering the company down the same road.