Is US giant Occidental Petroleum circling Peter Botten's Oil
Search?
By Will Glasgow
July 19 (Financial Review) -- Now to plane spotting.
A corporate jet owned by heavyweight international oil and
gas exploration and production company Occidental Petroleum
landed in Sydney last weekend. Two days later, the Oxy jet set
off home to Los Angeles HQ.
Were Vicki Hollub's troops just dropping in for pizza and
trivia night at The Angry Pirate?
Not to take anything away from the Redfern nautical
institution - it's practically Rear Window-HQ these days - but
a more likely cause for the Boeing 737's arrival would involve
ASX-listed oil and gas oufit Oil Search.
Surely if they were sniffing around Peter Coleman's
Woodside they would land in Perth. Interest in David Knox's
Santos would take them to Adelaide.
Peter Botten's Oil Search could make some sense in
Occidental's family of assets. It has a large scale LNG project
in Papua New Guinea that produces at the bottom of the global
cost curve.
And with a market cap of only $10 billion, it's digestible
for the $75 billion-odd, New York Stock Exchange-listed Oxy.
Just an observation.
