Occidental Petroleum and Anadarko yesterday signed a merger agreement putting the final stroke to the biggest deal in oil and gas since Shell’s acquisition of BG Group. Hart Energy quoted a statement by Oxy’s chief executive, Vicki Hollub, as saying, “This transaction further establishes Occidental as a premier operator in prolific global oil and gas regions with the ability to deliver production growth of 5% through investment in projects with industry-leading returns.” Indeed, the deal will cement and expand Occidental’s position as the largest oil producer in the Permian after it incorporates Anadarko’s acreage, which comes in at some 600,000 acres gross in the Delaware Basin, part of the largest shale play. It is to a large extent this acreage that prompted Chevron to bid for its smaller rival, but the supermajor yesterday dropped out of the race, leaving all 600,000 acres as well as assets outside the shale […]