With Chevron Dropping Out of Anadarko Race, Our Anadarko FVE Now Reflects Occidental Offer
Citing cost and capital discipline, Chevron announced May 9 it would not submit a counter proposal to acquire Anadarko in the wake of Occidental Petroleum’s revised bid. With Chevron out of the running, our Anadarko fair value estimate now reflects the latest bid from Oxy and has increased to $76 per share from $72. Our fair value estimate includes roughly $20 per share in value related to the acquisition premium Occidental has proposed to acquire Anadarko. We use Occidental's fair value estimat...Anadarko Petroleum is an independent exploration and production company. The company also participates in the hard-minerals business through royalty arrangements. The company's reporting segments are as follows: Exploration and Production, which is engaged in the exploration, development, production, and sale of oil, natural gas, and natural-gas liquids (NGLs) and in advancing its Mozambique liquefied natural gas project toward final investment decision; and WES Midstream and Other Midstream, in which these two segments engage in gathering, processing, treating, and transporting the company and third-party oil, natural-gas, and NGL production as well as gathering and disposal of produced water.
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