Entries by Empire Admin

Anadarko cancels Chevron deal, enters into Oxy deal for $57B

The Woodlands-based Anadako Petroleum Corp.  (NYSE: APC) officially terminated its previously announced acquisition deal with Chevron (NYSE: CVX) on May 9, the same day that the California-based energy giant bowed out of a bidding war over the company. Houston-based Occidental Petroleum Corp.  (NYSE: OXY) came out on top in that fight. The companies also announced May 9 that […]

Canada to buy Kinder Morgan’s Trans Mountain Expansion Project

Kinder Morgan Canada Ltd. has reached an agreement with the Canadian government to sell the Trans Mountain Expansion Project (TMEP). Canada will purchase the crude transportation project and the pipeline and terminal assets constituting the existing Trans Mountain pipeline for $4.5 billion in a transaction expected to close in August and intended to ensure TMEP’s timely […]

Boom in West Texas oil patch lifts wages, prices

In West Texas, rising oil prices are fueling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the cost of housing and other essentials. This parched patch of land, under which lies the largest oil-producing rock formations in the United States, is the […]