Occidental Petroleum Corporation (acquired Anadarko)

Occidental Petroleum Corporation is a major energy company focused on exploring, extracting, and producing oil and natural gas. In a strategic move to strengthen its position, Occidental acquired Anadarko Petroleum in 2019, a company with significant shale oil assets. This acquisition expanded Occidental’s resource base, enhanced its production capabilities, and aimed to increase shareholder value. Essentially, Occidental bought Anadarko to grow its energy portfolio and improve its prospects in the competitive oil industry.