Occidental acquires Anadarko following shareholder vote

Anadarko Petroleum Corp., headquartered in The Woodlands, was acquired by Occidental Petroleum Corp. Aug. 8.

Anadarko Petroleum Corp., headquartered in The Woodlands, was acquired by Occidental Petroleum Corp. Aug. 8.

Occidental Petroleum Corp. announced its finalized acquisition of The Woodlands-based Anadarko Petroleum Corp. on Aug. 8, after Anadarko shareholders approved the merger in a special meeting held at the company's headquarters.

The deal's closure comes less than four months after Chevron Corp. first announced its intentions to acquire Anadarko, The Woodlands area's largest private employer. Chevron dropped its bid after its offer was topped by Occidental in May. The final transaction received more than 99% of votes at the Anadarko shareholder meeting, and is valued at $55 billion including Occidental's assumption of Anadarko's debt.

"With Anadarko’s world-class asset portfolio now officially part of Occidental, we begin our work to integrate our two companies and unlock the significant value of this combination for shareholders,” Occidental President and Chief Executive Officer Vicki Hollub said in an Aug. 8 statement.

Anadarko employed more than 3,600 workers and contractors locally, according to an early 2019 count by The Woodlands Area Economic Development Partnership. An Occidental spokesperson said the company did not have additional information to offer on the status of Anadarko's workforce or 1.37 million-square-foot headquarters in The Woodlands following the acquisition.

Gil Staley, the EDP’s chief executive officer, said in July that a group of The Woodlands-area officials and community members had met with Hollub to discuss the future of Anadarko's campus and local workforce prior to the deal's completion. Although no final plans were made at that time, Staley said Hollub had expressed the possibility that Occidental could sell the former Anadarko asset then lease the space for its future operations.

The 7.35-acre campus on Lake Robbins Drive is valued at $206.28 million, according to 2019 Montgomery Central Appraisal District data. Anadarko first occupied The Woodlands property in 1999 and later expanded its headquarters with the construction of the 30-story Allison Tower and 31-story Hackett Tower.

"It's certainly the closing of an era," Staley said following the acquisition.

This story was updated to include further information on Anadarko's headquarters and comments from Occidental and The Woodlands Area Economic Development Partnership.


Hewlett Packard Enterprise
Hewlett Packard Enterprise to relocate headquarters from Silicon Valley to Springwoods Village

Hewlett Packard Enterprise announced Dec. 1 plans to relocate its headquarters from San Jose, California to a brand new campus in the Greater Houston area, which is under construction in CityPlace at Springwoods Village.

CCEMS provides emergency medical services for approximately 177 square miles of North Harris County. (Courtesy Cypress Creek EMS)
Judge rules Harris County Emergency Services District No. 11 can no longer withhold payments from Cypress Creek EMS

The ESD No. 11 board voted to terminate its contract with CCEMS on Sept. 3 after a long history of disagreements over the two entities’ 16-year relationship.

Houston Methodist The Woodlands Hospital is undergoing an expansion. (Andrew Christman/Community Impact Newspaper)
Work on $250M Houston Methodist The Woodlands Hospital expansion continues, completion expected in 2022

The new patient tower at Houston Methodist The Woodlands Hospital will include for 100 more beds.

To support this initiative, community members are encouraged to visit NAM's Blessing Tree, located at 15555 Kuykendahl Road, Houston, where they can choose a child's name and shop specifically for that child. (Courtesy Northwest Assistance Ministries)
Northwest Assistance Ministries in need of donations to support biggest Season of Blessings campaign in nonprofit's history

Northwest Assistance Ministries is in need of toys, food and monetary donations to provide meals to more than 1,700 families and toys to more than 5,300 children this holiday season. By comparison, the nonprofit provided meals for 994 families and toys for 1,773 children in 2019.

The Texas Higher Education Coordinating Board has launched a campaign to address declining college enrollment numbers across the state since the pandemic started. (Courtesy Pexels)
Texas Higher Education Coordinating Board launches campaign to boost college enrollment

The decline in college enrollment across the state of Texas has prompted several agencies to partner up and create online resources for students and counselors.

(Courtesy Press Waffle Co.)
Press Waffle Co. set to open in The Woodlands on Dec. 4

The restaurant features sweet and savory waffles, gourmet milkshakes, and coffee and espresso drinks.

(Courtesy Shake Shack)
The Woodlands area welcomes 3 new dining locations in November with 4th coming soon

Three new dining locations opened around The Woodlands in November, with a fourth coming soon.

Community Impact Newspaper uses data from the Montgomery County Public Health District for weekly case counts. (Community Impact Newspaper)
Active COVID-19 cases in Montgomery County rise 34% over Thanksgiving week from Nov. 23-30

Active cases increased from 2,513 to 3,365; recoveries grew from 10,655 to 11,019; and the death toll has remained the same at 169.

The Montgomery County commissioners discussed reimbursement payments to various entities for coronavirus expenditures. (Courtesy Adobe Stock)
Montgomery County Commissioners defer CARES Act reimbursements a week

The requested amounts to the counties are for expenses incurred due to the coronavirus.

Howard Hughes
Howard Hughes Corp. announces plans for remaining commercial development in The Woodlands

The last 700 acres of commercial property to be developed in The Woodlands are located mainly in Town Center or on the periphery of the township, according to The Howard Hughes Corp.

Dozens of clinics throughout the county offer COVID-19 testing services. (William C. Wadsack/Community Impact Newspaper)
COVID-19 testing locations remain open in Montgomery County and more local news

Read the latest Houston-area business and community news.