APC - Occidental Petroleum: Is It Reasonable Or Just Simple Madness?
Source: Occidental Petroleum Corp.
A quick overview
Houston-based Occidental Petroleum (OXY) is an energy-integrated company, specializing mainly in crude oil, natural gas exploration, and production.
The company's business operations also include chemical, midstream and marketing. Below is the pre-tax income per segment from the most recent quarter released:
The company is well-known for its active presence in the Permian Basin, and it is this distinct characteristic that explains entirely why the company ignited a bidding war with its rival Chevron Corp. (CVX) over the acquisition of Anadarko Petroleum (APC