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Occidental Petroleum Corporation Message Board

rude_crude_dude2000 64 posts  |  Last Activity: Aug 21, 2014 12:10 PM Member since: Dec 20, 2007
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  • rude_crude_dude2000 by rude_crude_dude2000 Aug 21, 2014 12:10 PM Flag

    I wish someone would tell us what to expect in our 401K's and what our options are to divest if we dont want exposure to California. I Oxy doesn't want it, why should we?

  • Reply to

    OXY's Reorganizational Plans?

    by sollid_companiess_only Oct 8, 2013 9:11 AM
    rude_crude_dude2000 rude_crude_dude2000 Oct 14, 2013 7:13 PM Flag

    I understand that as investors we love to have forward visibility but Mr. Chazen has stated repeatedly that the entire strategic business review will not be completed until after the 1st of the year. That said, it seems obvious that only a minority interest (%40) of the middle east will be montized. It is probable that California will be spun off. Beyond those moves, it doesnt seem likley that anything dramatic will occur and they are already priced into the market. I just dont see a reason to hold my breath here. Its a sound fundamental stock with average growth potential and a pretty good dividend yield. It should be played just that way.

  • rude_crude_dude2000 rude_crude_dude2000 May 24, 2013 2:03 PM Flag

    I would like to hear more about how the proceeds of the sale would be used. Purchase of domestic production assets, exploration plays, special divident to shareholders? Since Irani and Laurance are gone, why maintain their "hobby" chemical business? Does the company have core competency in or need of a big trading and pipeline midstream business? There are lots of assets that could be divested but what's the plan for re-investment or return to the shareholders? I've got a lot of this long and would really like to know!

  • rude_crude_dude2000 rude_crude_dude2000 Apr 30, 2013 2:55 PM Flag

    I remember when Irani took over and divested all of Armand Hammers diverse and non-strategically aligned sacred cow projects. He used the revenue to retire debt and rebuild the asset base to optimize returns based on the market situation at that moment. Now I hope Chazen will do the same thing. I guess Ol' Ray just forgot about his own formula for success.

  • Reply to

    Move the HQ to Texas

    by distant_constellation Apr 29, 2013 11:04 AM
    rude_crude_dude2000 rude_crude_dude2000 Apr 30, 2013 2:38 PM Flag

    I havent seen that $10/share figure before. I know its been looked at.

  • There seems to be a whirlwind of activity by entrenched board members trying to gather enough proxy votes to save their skins after the embattled CEO managed a production record and a surprise earnings beat. This board has been packed by the Chairman for many years and may now pay the price for rubber stamping the Chairman's attempt to oust him and for mishandling of the CEO succession issue. Its long past time that real shareholder best interest made an appearance here.

  • Reply to

    OXY leadership fight -what's going on?

    by santafenm1 Apr 11, 2013 1:25 PM
    rude_crude_dude2000 rude_crude_dude2000 Apr 19, 2013 2:05 PM Flag

    The price volatility over the leadership struggle is because it will determine the strategic direction on the company. CEO Chazen is very shareholder oriented. His ideas for unlocking value include getting out of loser middle east assets that Chairman Irani is responsible for creating and (mis)managing. That would render Irani irrelevant. Should'nt matter if, as stated, he intends to go in 2014. If he intends to stay, a vacancy in the CEO position would "force" his packed BOD to allow him to remain. They are trying hard to round up institutional investor support and proxy research firm endorsements to hang on to power. I understand they are not getting much of that support. Chazen represents long term shareholder value creation. Irani, a history of ourageous compensation including IRS issues in 2006. Google it and then vote your proxy accordingly. Chazen=good for longs. Irani and his packed board=God only knows. Ive been trading this since the Dr. Hammer days and seen it all before.

    Sentiment: Buy

  • Reply to

    not responding to rally

    by montanamatt Apr 10, 2013 12:05 PM
    rude_crude_dude2000 rude_crude_dude2000 Apr 10, 2013 3:40 PM Flag

    This thing is range-constrained right now as everyone waits for the the proxy vote. It will signal the long term direction and you'll see enough trading volume then to indicate its trajectory. If the current Board and Irani are rebuked by any large institutional shareholders, you could see some upward trending. If Irani's stranglehold remains unbroken, it will continue to languish. Ray has had 21 years at the helm. At nearly 80 years of age, its past time for him to go. Chazen represents change of direction that threatens the status quo and should boost returns accordingly.

  • Reply to

    The Board Must Go Now!

    by bryanyoung426 Apr 7, 2013 3:30 PM
    rude_crude_dude2000 rude_crude_dude2000 Apr 7, 2013 8:41 PM Flag

    Its all about Ray hanging on to power. As 2014 approaches, the promise he made to step looms larger. Without a clear successor he can graciously offer to remain in charge and the board will have little choice. A deemphasis on the middle east and refocus on domestic operations threatens his relevance. I am casting my votes for Chazen and against all the rest. Many are aged and entrenched. Some are even leftovers from the era of Dr. Hammer. Time for a change and Chazen represents that opportunity.

    Sentiment: Hold

  • Reply to

    Monterey Shale

    by dripdripdrop_of_gonorrhea Dec 19, 2012 7:21 AM
    rude_crude_dude2000 rude_crude_dude2000 Feb 13, 2013 2:01 PM Flag

    Only one thing the liberals love more that environmental regulations and that's money for all their social program giveaways. This represents a huge potential tax windfall for the state to finance things like high speed rail. When its principles versus money, money wins out every time. We'll get the oil, they'll get money, and the environmentalist will be thrown some other bone in exchange for it all.

    Sentiment: Buy

  • rude_crude_dude2000 rude_crude_dude2000 Oct 23, 2011 9:28 PM Flag

    1. Oxy got "off the ground" with the discovery of the Lathrop gas field in California years before its Libyan discoveries
    2. Oxy obtained its concession through an open bidding process against some considerably larger companies.
    3. The deal was signed by King Idris years before Khadaffi deposed him.
    4. Oxy's stock did not "soar to $100" as initially they had no market for the crude and no way to monetize it.

    A little fact checking would go a long way toward your credibility when posting things like this.

  • Will the other mid-cap exploration and production companies have to jump on the bandwagon? Anadarko's market cap of $38 billion is a pretty big bite to chew. BHP must be after something specific in APC's holdings. Otherwise if it were such a good buy, the super majors would have snatched it up. JMHO.

  • Reply to

    Chazen a chronic insider seller?

    by stock_loan Oct 24, 2010 10:26 PM
    rude_crude_dude2000 rude_crude_dude2000 Oct 25, 2010 1:52 PM Flag

    He probably does it for the same reasons we all do--portfolio rebalance and tax optimization.JMHO.

  • rude_crude_dude2000 rude_crude_dude2000 Oct 12, 2010 12:25 PM Flag

    Here comes the exciting Board meeting when Big Ray will change nothing except the officer titles. I bet CALSTRS just can't wait!

  • Reply to

    TAKEOVER?

    by oazkiasoo Oct 1, 2010 10:17 AM
    rude_crude_dude2000 rude_crude_dude2000 Oct 5, 2010 8:13 PM Flag

    Nothing even remotely like that is going to happen until Big Ray makes clear what he is going to do in terms of succession and after the elections which will determine of the cap and trade legislation will go forward or meet an obstructive Congress.

  • rude_crude_dude2000 rude_crude_dude2000 Sep 16, 2010 12:45 PM Flag

    Actually this doesn't look like a bubble stock to me. The fundamentals are too solid. It should settle down a bit after the uncertainty over succession has subsided. Of course, any oil stock is gonna tank if crude prices take a tumble but there is more upside pressure on crude than downside. JMHO

  • rude_crude_dude2000 by rude_crude_dude2000 Sep 2, 2010 12:23 AM Flag

    In an attempt to quiet the criticism over his excessive pay, Irani is supposedly going to announce at the Oct board mtg a date when he will hand over the CEO position. He plans to continue as Chairman of the board for the foreseeable future. My question is how will this quiet the fuss? He will still have ultimate control of the company, all his many perks, and some compensation package that includes many ongoing and expensive conditions of his employment agreement. I'm not sure he can achieve peaceful investor relations unless he renegotiates his pay package and addresses his age and other board member ages being way over the bylaws limit of 75 years. should be interesting to watch. JMHO

  • Reply to

    OXY TO BUY MRO

    by upward2000 Apr 30, 2010 12:39 AM
    rude_crude_dude2000 rude_crude_dude2000 Apr 30, 2010 1:09 AM Flag

    Ray and his board are really big on strategic fit and MRO does not fit well with Oxy's asset base and business strategy. Just the downstream stuff alone would be enough to turn off Ray, notwithstanding the geographic mismatch of exploration and production. Not likey there will be a combination of these two any time soon.

  • Reply to

    Our CEO, Irani, Was Paid 31 Million

    by moriholwat Mar 5, 2010 9:10 PM
    rude_crude_dude2000 rude_crude_dude2000 Mar 5, 2010 11:38 PM Flag

    Actually the Board of Directors has a compensation committee who are elected by the shareholders to look out after their interests. More people ought to read the prospectus in the annual meeting package. It tells how well protected we are from any abuse by such high-integrity management.

  • Reply to

    Fools oil collapse

    by kopach Feb 1, 2010 2:26 PM
    rude_crude_dude2000 rude_crude_dude2000 Feb 10, 2010 1:34 PM Flag

    Your meager intellect is the only thing to have collapsed.

OXY
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