Find out what's happening in the world as it unfolds.Last spring, Vicki Hollub quietly hopped on a Gulfstream The CEO of Occidental Petroleum and the first woman to lead a major American energy company, Hollub had her eye on the Permian Basin — the most prolific oil field in the United States. Even then, it won't be decided by the likes of Icahn or Wall Street analysts, but by the whims of the notoriously boom-to-bust oil market.
"Occidental insists it can weather the next oil storm because of its superior technology, which is highly regarded throughout the industry. Most stock quote data provided by BATS. Most stock quote data provided by BATS.
(Kyle Grillot/Bloomberg/Getty Images)A quick stop in Nebraska held the key. If she could buy rival Anadarko Petroleum, which held prized drilling rights in the area, Occidental would become the leading producer at the epicenter of But a major hurdle stood in her way: Hollub would first have to Vicki Hollub, president and CEO of Occidental Petroleum, went toe-to-toe with an oil company five times larger than hers, and she won. Disclaimer. But Hollub's passion for college football helped her make inroads, she said. The But Hollub knew she had to be aggressive. This decision is take in action on unknown. Watch Asian TV shows and movies online for FREE! But I wish they did not do it," said Pavel Molchanov, an energy-industry analyst at Raymond James. "It was expensive. All rights reserved. Occidental did not say how many jobs will be cut.Still, in August Moody's took the rare step of downgrading Occidental's credit rating "That's a pretty unprecedented move," said Brooks, vice president at Moody's.
Two days before her Omaha summit with Buffett, Hollub took an even bolder step: The episodes show how determined Hollub was to control Anadarko, even in the face of By swallowing up Anadarko, Occidental would become so large that it couldn't be taken over by a mega oil company like For better or worse, the Anadarko deal will define Hollub's legacy — and the trajectory of Occidental.Hollub turned to legendary investor Warren Buffett for extra funding to sweeten Occidental's bid for Anadarko Petroleum. Legendary investor Warren Buffett endorsed Hollub's hostile takeover of Anadarko Petroleum.
"Vicki and her team saw an enormous pot of gold in the middle of Anadarko's assets that Wall Street analysts didn't see," said Julio Friedmann, senior research scholar at the Center for Global Energy Policy at Columbia University, adding that the hidden value is likely in the geology of the Permian Basin. Two days before her Omaha summit with Buffett, Hollub took an even bolder step: The episodes show how determined Hollub was to control Anadarko, even in the face of By swallowing up Anadarko, Occidental would become so large that it couldn't be taken over by a mega oil company like For better or worse, the Anadarko deal will define Hollub's legacy — and the trajectory of Occidental.Hollub turned to legendary investor Warren Buffett for extra funding to sweeten Occidental's bid for Anadarko Petroleum.