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She won the market. But Wall Street fears that the operation is not winning and that the price of the Oxy stock has fallen to its lowest level in ten years. Oxy, which has assets of $ 43.9 billion, will try to swallow a company close to its size, $ 40.4 billion, and will incur a debt of nearly $ 40 billion. Hollub's partners, Total and Buffet, help finance, Total agrees to buy international operations and Buffett buys a stake in Oxy to help pay for the deal. Nevertheless, despite everything, the acquisition is a bet that allows Occidental Petroleum to make the best use of oil and gas wells, and that oil prices will remain high enough for efficiency to be at the rendezvous. Hollub puts all his chips on the table.
High stakes maneuvers on drilling operations in West Texas are no longer a story for the Texas history class. Thanks to the fracturing and horizontal drilling technology developed here in North Texas and applied to the Permian Basin, Texas has become a major oil producer and the United States has become an oil exporter.
Houston oil sector officials no longer need to look to the remotest parts of the world to increase production. a short flight to Midland takes them to one of the richest regions in expanding the planet. No one has to negotiate with a Saudi or a Russian to gain access; in western Texas, the most ferocious obstacles to drilling are silver, weeds and, in the case of Chevron, Mrs. Hollub.
If she wins, Hollub will prove that it's wise to bet on Texas oil and do it with smart collaboration.
If she loses, she will not be the first to bet big on Texas oil and leave with a little more than the boots on her feet. We Texans cherish courage with courage, in part because it is this kind of courage that creates the vitality needed to grow our economy. And for that, we can all hope for Hollub's success.
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