getting smaller and focused. Irani did something similar by dumping the #$%$ Hammer accumulated - Island Creek, Midcon, IPB beef, horses, hotels, and even hybrid rice to focus on international and domestic. Irani with the help of Gore got Elk Hills done. However over time Irani lost vision (IMO) coupled with shareholders and others suit to oust Mr Big bucks and in comes Chazen. a money man of sorts who also helped shape Irani and get the co's total debt reduced. Chazen has a different vision - splitting and selling assets including that total failure (IMO) Phibro...clearly he's listening to WS....is there a bigger plan who knows...a complete sell or spin off of what's left...maybe separate chemicals...who knows....I'm sure it will be good for a few years and maybe just maybe we get that 120/sh price
They are doing an excellent job of repositioning themselves for the future using a sound strategy, shedding of less desirable assets and those in unstable areas of the world. In order to replace a depleting resource they are forward looking in how to grow the company in a way that fits their goals. If a stronger/safer location for production is in the US, PXD's TX acreage under lease with it's known and potential reserves would fit that goal and work with the large position OXY already has in TX. It is just a speculative idea.