Occidental Petroleum Corporation ( Oxy )

Would you rather take risks or be cautious and never take a risk? John D. Rockefeller started his own oil company risking everything he had in order to accomplish his dream and he did. You should take more risks because you will learn from your mistakes, be more prepared and you can reach your goals.

In 1859 Edwin Drake and E. B. Bowditch of the Seneca Oil Company drilled the first commercial oil well in the United States in Titusville, Pennsylvania. The well produces about 500 gallons of oil a day and over time has increased. Soon, similar wells all over western Pennsylvania were providing crude oil for kerosene production that was needed to fuel the nation 's streetlights and house lamps. “The lighter boiling component, gasoline, was discarded, since it had no market. There are historical reports that "waste" gasoline, which had been dumped into rivers, sometimes caught fire. In 1892 the first gasoline-powered engines, for both car and tractor, were developed: This soon provided a market for the once useless substance, gasoline”

Headquartered in Irving, Texas. Exxon Mobil Corporation is an energy company that explores for and produces crude oil and natural gas. As one of the largest manufacturers of petroleum products in the world, it transports and sells natural gas, crude oil, and oil products. Exxon is also a major manufacturer and marketer of commodity petrochemicals and a wide variety of specialty products. It also markets and refines chemicals, and has interests in power generation facilities. The company operates in two hundred plus countries in North America, Europe, Asia-Pacific, Latin America and Middle East/Africa.

o Revenues minus expenses determined the cash flows for years 1984-1991. The cash flows cease in 1991 after all oil and gas reserves are liquidated. The cash flows derived account for the liquidation of the oil and gas assets only, and do not account for liquidating other assets such as current assets or net properties. The cash flows were then discounted by net present value using Gulf 's cost of capital as the discount rate. Total cash flows until

The world’s largest independent corporation for its production of crude oil and natural gas are to be known as the Canadian Natural Resources. It is an Energy Company that is situated in Calgary, Alberta. From the early 1980s, this company has developed from less than a 10 employees and a market capitalization of $1 billion to one employing 3700 employees with a market capitalization of $30 billion ranking number 251 on Forbes list in 2010. The emergence of rapid growth has come due to attainments and organic growths. Canadian Natural Resources (CNQ) is a large company that is operated across Western Canada, offshore West Africa and North Sea. This Energy Company deals with exploring many resources such as: mining, natural gas, oil Sands, production of crude oil and other related markets in the US, Canada and Europe. The biggest production offering nearly half of its all products is the natural gas.

In 1870 John D. Rockefeller started Standard Oil Co. and it quickly became the largest petroleum products company in the world. By 1890 Standard controlled 90 percent of refined oil in the United States and was sued by the state of Ohio for its anticompetitive practices. Standard Oil of Ohio which was its original name simply broke the company into 41 separate companies, and controlled them through the new Standard Oil Trust, legally known as Standard Oil Co. of New Jersey. Because there were no federal laws prohibiting anticompetitive behavior in business Standard Oil was able to avoid any serious repercussions from the government. Standard Oil achieved market dominance by undercutting the competition, arranging special deals with railroads, and aggressively buying out its competition. Between 1902 and 1904 the writer Ida Tarbell, the daughter of a failed oil businessman whose company went under because of Standard Oils practices, wrote a 19-part investigational report into the practices of Standard Oil. These articles led to the wide spread public outcry for the government to do something about Standard Oil and monopolies in all other industries. In 1911 Standard Oil was sued by the United States and the case reached the Supreme Court. Under the Sherman Act the government alleged Standard Oil was a monopoly and abused its monopolistic power to restrain trade through predatory pricing and unfair deals with railroad companies.

A once strategic sector in Ecuador, petroleum, has become one of lesser interest to multinational companies under Correa’s administration. Ecuador reaped economic growth when Correa introduced policies that would nationalize the industry at the expense of Chevron. Additionally, by kicking out Chevron and holding

After doing an evaluation on the inventory for Williams Oil Company, the auditor learned that the warehouse clerk is the person who is responsible for ordering parts and supply inventory for use in drilling, they also keep track of inventory that is received from the docks, record the receipts onto the inventory ledger and do an annual check on the inventory. There is no supervisor that reviews this clerks’ work.

Spectra energy has different segments and they are Western Canada, Union Gas, DCP Midstream and Spectra Energy Partners. These assets have been a part of company 's revenue over the last two years. One of the main reasons for this revenue increase is the acquisition of the Express-Platte pipeline system and the ongoing expansion projects of SEP. (“You Can Make Money in the Stock Market!")

Calgary’s Tourmaline Oil Corporation is a Canadian intermediate crude oil and natural gas exploration and production company. Tourmaline commenced active operations in the fall of 2008 with t a long-term business growth objective and listed on the TSX in November 2010. During 2010, Tourmaline has generated very strong growth in all reserve categories. Due to Tourmaline Oil Corporation’s strategies such as aggressive drilling and developing land position, adopting and employing advanced drilling techniques, pursuing strategic acquisitions and exploring new pool discoveries for drilling, has grown significantly since its commencing in 2008. “Proved Developed Producing reserves grew to 38.9 mmboe (million barrels of oil equivalent) in 2010, a 126% increase over year end 2009 (65% per share year over year), Total Proved reserves grew to 93.0 mmboe in 2010, a 167% increase over 2009 (95% per share) and Proved Plus Probable reserves grew to 158.2 mmboe in 2010, a 166% increase over 2009 (94% per share)”. Through a series of strategic acquisitions include farm-ins and land acquisitions, it enables active capital exploration and development program. It has assembled an extensive undeveloped land position and operating control of important natural gas processing in three major areas; in the Alberta Deep Basin, Sunrise/Dawson NEBC Montney and the Peace River High

Amoco itself had sold more than $750 million worth of small properties which, it felt, could be

Union Oil Company of California (Unocal) is a California-based oil company founded in October 17, 1890. Unocal is to expand oil field in California. However, in the 1990, the oil field in the States nearing dry out, the company had started to invest in energy resources projects outside the US.

Chevron is a publicly traded company on the New York Stock Exchange. Their stock symbol is CVX. Chevron is in the business of oil and gas and was founded in 1984 as the Chevron Corporation. Chevron’s headquarters is in San Ramon, California and they serve on a multinational level to over 180 countries world wide. This makes Chevron the fourth largest petroleum company in the world. In 2015 Chevron had grossed revenue of about 130 billion dollars with a net income of 4.58 billion dollars. John S. Watson currently serves as the chairman and C.E.O. of the Chevron Corporation and he also sits on the board of directors.

1. Do you agree or disagree with Tony Hayward’s quote at the end of the case? Was this disaster strictly a BP failure or an industry accident? (One of my biggest mistakes was that I allowed myself to become the lightning rod for hatred and anger.” He went on to say, “I genuinely feel that this could have happened to anyone. This is not BP. It is an industry accident.)

For European options, the binomial model tends to converge with the Black-Scholes formula as the number of steps increases. Since the statistics of days after the announcement of the repurchase plan are fairly limited, we have decided that the Black-Scholes Model would perform better for this case scenario.