'More broadly though, if we stepped back a bit, OXY essentially swapped OXYChem and a host of assets (operated/nonoperated/interests/rights) for CrownRock (“CR”)'
Bingo! I thought I was the only one seeing this.
Last thing we want is 'messaging' trying to boost the SP before allocating FCF to buy back shares will hurt the real owners... They have told us what we need to know.
It could be both. Likely a good enough return (and there’s some synergies with other BH businesses) and it helps OXY de-lever and their investment in the company. Greg Abel’s comment post investment seems to allude to that
'More broadly though, if we stepped back a bit, OXY essentially swapped OXYChem and a host of assets (operated/nonoperated/interests/rights) for CrownRock (“CR”)'
Bingo! I thought I was the only one seeing this.
Last thing we want is 'messaging' trying to boost the SP before allocating FCF to buy back shares will hurt the real owners... They have told us what we need to know.
am still unsure whether this play was to ultimately help BH's stake in oxy.
the acq seems to be missing criteria warren normally deems mandatory.
may not know unless BH re-packages and sends it off, also unusual.
It could be both. Likely a good enough return (and there’s some synergies with other BH businesses) and it helps OXY de-lever and their investment in the company. Greg Abel’s comment post investment seems to allude to that