Community hub
Recent from talks
Knowledge base stats:
Talk channels stats:
Members stats:
Kerr-McGee
The Kerr-McGee Corporation, founded in 1929, was an American energy company involved in oil exploration, production of crude oil, natural gas, perchlorate and uranium mining and milling in various countries. On June 23, 2006, Anadarko Petroleum acquired Kerr-McGee in an all-cash transaction totalling $16.5 billion plus $2.6 billion in debt and all operations moved from their base in Oklahoma, United States. As a result of further acquisitions, most of the former Kerr-McGee is now part of Occidental Petroleum.
The company later known as Kerr-McGee was founded in 1929 as Anderson & Kerr Drilling Company by Oklahoma businessman-politician Robert S. Kerr and oil driller James L. Anderson. When Dean A. McGee, a former chief geologist for Phillips Petroleum, joined the firm in 1946, it changed its name to Kerr-McGee Oil Industries, Incorporated. The company initially focused mostly on off-shore oil exploration and production, being one of the first companies to use drillships in the Gulf of Mexico, and later one of the first companies to use a Spar platform in the area.
With the acquisition of the Oryx Energy Company of Dallas, Texas in 1999, Kerr-McGee gained more onshore assets, as well as significant assets in several foreign areas in Algeria and western Kazakhstan. Later acquisitions of HS Resources and Westport Resources Corp. established the base of operations in Denver, Colorado and added large resource areas throughout the Rocky Mountains.[citation needed]
Until 2005, Kerr-McGee had two major divisions: chemical and oil-related. On November 21, 2005, its chemical division, based in Oklahoma City, was sold as an IPO, Tronox, thereby making Oklahoma City home to the administrative side of Kerr-McGee, while exploration and production management was located in Denver and Houston.[citation needed] Through acquisitions, for a time Kerr-McGee marketed products under the Deep Rock, Coast, Power, and Peoples brands in addition to its own. It also marketed Blue Velvet motor oil, a multiviscosity grade with a blue dyed anti-wear additive.
On June 23, 2006, Anadarko Petroleum, based in The Woodlands, Texas, purchased Kerr-McGee in an all-cash transaction totaling $16.5 billion plus the assumption of $2.6 billion in debt. Kerr-McGee shareholders approved the offer on August 10, 2006, and Kerr-McGee ceased to exist independently. All operations with the exception of Tronox, which had been spun off in 2005, moved out of Oklahoma. Within a few years, the top positions at Anadarko had been filled by Kerr-McGee employees and many longtime Anadarko employees had left or been removed from the company, making the merger between Anadarko and Kerr-McGee a "wag the dog" transaction.
Kerr-McGee v. Navajo Tribe, 471 U.S. 195 (1985), was a case in which the Supreme Court of the United States held that an Indian tribe is not required to obtain the Secretary of the Interior's approval to impose taxes on non-tribal persons or entities doing business on a reservation.
In 1978, the Navajo Tribal Council passed two tax ordinances. One was a tax of 3% on leaseholds (such as mineral rights) and one a 5% tax on business activity.
Kerr-McGee held substantial mineral rights on the Navajo Nation and filed suit in federal district court seeking an injunction to prohibit the tribe from collecting the tax. Kerr-McGee argued that any tax of non-Indians by a tribe required the Secretary of the Interior's approval, and the district court agreed, granting the injunction. The tribe appealed to the Ninth Circuit Court of Appeals. The Ninth Circuit overruled the district court, finding no federal statute or regulation required such approval. Kerr-McGee then appealed to the Supreme Court, which granted certiorari and agreed to hear the case. The court decided unanimously that the Navajo Nation had the right to tax Kerr-McGee because tribal authority to tax had already been recognized and because no federal law prohibited exercising tribal sovereignty in enacting a tax.
Hub AI
Kerr-McGee AI simulator
(@Kerr-McGee_simulator)
Kerr-McGee
The Kerr-McGee Corporation, founded in 1929, was an American energy company involved in oil exploration, production of crude oil, natural gas, perchlorate and uranium mining and milling in various countries. On June 23, 2006, Anadarko Petroleum acquired Kerr-McGee in an all-cash transaction totalling $16.5 billion plus $2.6 billion in debt and all operations moved from their base in Oklahoma, United States. As a result of further acquisitions, most of the former Kerr-McGee is now part of Occidental Petroleum.
The company later known as Kerr-McGee was founded in 1929 as Anderson & Kerr Drilling Company by Oklahoma businessman-politician Robert S. Kerr and oil driller James L. Anderson. When Dean A. McGee, a former chief geologist for Phillips Petroleum, joined the firm in 1946, it changed its name to Kerr-McGee Oil Industries, Incorporated. The company initially focused mostly on off-shore oil exploration and production, being one of the first companies to use drillships in the Gulf of Mexico, and later one of the first companies to use a Spar platform in the area.
With the acquisition of the Oryx Energy Company of Dallas, Texas in 1999, Kerr-McGee gained more onshore assets, as well as significant assets in several foreign areas in Algeria and western Kazakhstan. Later acquisitions of HS Resources and Westport Resources Corp. established the base of operations in Denver, Colorado and added large resource areas throughout the Rocky Mountains.[citation needed]
Until 2005, Kerr-McGee had two major divisions: chemical and oil-related. On November 21, 2005, its chemical division, based in Oklahoma City, was sold as an IPO, Tronox, thereby making Oklahoma City home to the administrative side of Kerr-McGee, while exploration and production management was located in Denver and Houston.[citation needed] Through acquisitions, for a time Kerr-McGee marketed products under the Deep Rock, Coast, Power, and Peoples brands in addition to its own. It also marketed Blue Velvet motor oil, a multiviscosity grade with a blue dyed anti-wear additive.
On June 23, 2006, Anadarko Petroleum, based in The Woodlands, Texas, purchased Kerr-McGee in an all-cash transaction totaling $16.5 billion plus the assumption of $2.6 billion in debt. Kerr-McGee shareholders approved the offer on August 10, 2006, and Kerr-McGee ceased to exist independently. All operations with the exception of Tronox, which had been spun off in 2005, moved out of Oklahoma. Within a few years, the top positions at Anadarko had been filled by Kerr-McGee employees and many longtime Anadarko employees had left or been removed from the company, making the merger between Anadarko and Kerr-McGee a "wag the dog" transaction.
Kerr-McGee v. Navajo Tribe, 471 U.S. 195 (1985), was a case in which the Supreme Court of the United States held that an Indian tribe is not required to obtain the Secretary of the Interior's approval to impose taxes on non-tribal persons or entities doing business on a reservation.
In 1978, the Navajo Tribal Council passed two tax ordinances. One was a tax of 3% on leaseholds (such as mineral rights) and one a 5% tax on business activity.
Kerr-McGee held substantial mineral rights on the Navajo Nation and filed suit in federal district court seeking an injunction to prohibit the tribe from collecting the tax. Kerr-McGee argued that any tax of non-Indians by a tribe required the Secretary of the Interior's approval, and the district court agreed, granting the injunction. The tribe appealed to the Ninth Circuit Court of Appeals. The Ninth Circuit overruled the district court, finding no federal statute or regulation required such approval. Kerr-McGee then appealed to the Supreme Court, which granted certiorari and agreed to hear the case. The court decided unanimously that the Navajo Nation had the right to tax Kerr-McGee because tribal authority to tax had already been recognized and because no federal law prohibited exercising tribal sovereignty in enacting a tax.