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The leading US independent oil companies : features and recent results


The aim of this article is to identify the main features of a sampling of the US independent oil companies Anadarko Petroleum, Occidental Petroleum, Marathon Oil, Unocal, Burlington Resources, Amerada Hess, Apache, Kerr-McGee, Devon Energy and Valero Energy. These companies are primarily active upstream, their gas dimension is sometimes very significant, higher than the majors in relative value. These groups are experiencing growing globalization, generally focused on a few key areas. Like the majors, they have adopted a dynamic external growth strategy, giving rise to significant increases in size. The analysis of their activities shows that these companies are full fledged players, exercising the function of operator in many cases and relying on leading edge technologies. Few of these companies are integrated, and the existence of large independents downstream is possible but rare. The financial results of the years 2000 and 2001 were exceptionally good, while those of the year 2002 are expected to slump, due particularly to the weakness of gas prices in the United States
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hal-02468268 , version 1 (05-02-2020)


  • HAL Id : hal-02468268 , version 1


Jean-Philippe Cueille, Luis de Castro Pinto Couthino, Jesus F. de Miguel Rodriguez. The leading US independent oil companies : features and recent results: Cahiers de l'Economie, Série Analyses et synthèses, n° 51. 2002. ⟨hal-02468268⟩
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