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Stock Market & Financial Investment News

News Breaks
February 14, 2014
07:01 EDTOXYOccidental Petroleum to separate California business
Occidental Petroleum Corporation announced the next phase of its strategic review. The Board of Directors has authorized the separation of Occidental’s California assets into an independent and separately traded company. The new California company will have 8,000 employees and contractors and will establish its headquarters in the state. It will be California’s largest natural gas producer and the state’s largest oil and gas producer on a gross-operated barrels of oil equivalent basis. This new company will be the largest oil and gas mineral acreage holder in the state with approximately 2.3 million net acres, and will have major operations in the state’s high-potential oil and gas basins, including Los Angeles, San Joaquin, Ventura and Sacramento. Last year the California business earned approximately $1.5 billion on a pre-tax basis. Earnings before income, taxes, depreciation and amortization were around $2.6 billion with capital expenditures of approximately $1.7 billion. Due to these strong results, capital expenditures planned for 2014 were increased to $2.1 billion. The company is expected to have a strong and competitive balance sheet with between $4 billion and $5 billion of funded debt. Occidental Petroleum Corporation will be headquartered in Houston, Texas. It will have exploration and production operations in the Permian Basin and other parts of Texas, the Middle East region and Colombia. It will also have a midstream and marketing segment and a chemical subsidiary, OxyChem. Each of these segments is a leader in its respective sector. The company believes that it will be better positioned to continue its strategy of generating growth with strong returns on capital and consistently increasing its dividend. Consistent with Occidental’s strategic review to focus in core businesses, it also plans to reduce its exposure to proprietary trading activities related to crude oil and other commodities.
News For OXY From The Last 14 Days
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August 29, 2014
16:01 EDTOXYOptions Update; August 29, 2014
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12:49 EDTOXYStocks with increasing volume options volume
Stocks with increasing volume options volume: OXY HD RSH UTHR IRF TTWO CONN
11:07 EDTOXYHigh option volume stocks
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09:57 EDTOXYOccidental Petroleum September and January calls active
Occidental Petroleum November 110, 115 and January 115, 125 calls are active on total call volume of 72,000 contracts and 100 puts. September weekly and September call option implied volatility is at 13, October is at 15, November and January is at 17, ; compared to its 26-week average of 20 according to Track Data. Active call volume suggests traders taking positions for price movement.
09:37 EDTOXYActive equity options trading on open
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August 24, 2014
15:23 EDTOXYOccidental Petroleum in talks to sell $3B gas stake to Mubadala, Bloomberg says
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