Stock Symbol: KMG
123 Robert S. Kerr Avenue
Kerr-McGee Corporation Industry:
Oil & Gas Operations
Kerr-McGee Corporation Description:
Kerr-McGee is an Oklahoma City-based energy and chemical company with worldwide operations and assets of approximately $11 billion.
Kerr-McGee Corporation Financial Summary:
Kerr-McGee Corporation is engaged in the exploration and production of crude oil and natural gas. The Company is also engaged in chemical manufacturing. For the 6 months ended 6/30/05, revenues increased 62% to $3.57B. Net income from cont. ops. totaled $727M, up from $269M. Revenues reflect increased crude oil & natural gas volumes and prices. Higher income also reflects improved gross margins and gains on assets held for sale.
Kerr-McGee Corporation Business Summary:
Kerr-McGee Corporation (Kerr-McGee) is an energy and inorganic chemical holding company whose consolidated subsidiaries, joint ventures and other affiliates (together, affiliates) have operations throughout the world. The Company's core businesses include exploration and production, and chemicals. Kerr-McGee's oil and gas exploration and production areas are onshore in the United States, in the Gulf of Mexico, the United Kingdom sector of the North Sea and China. In addition, the Company has exploration programs in Alaska, Brazil, Morocco, Bahamas and Benin. Kerr-McGee affiliates engaged in chemical businesses produce and market inorganic industrial chemicals, lithium-metal-polymer batteries and heavy minerals. On June 25, 2004, the Company completed a merger with Westport Resources Corporation. On March 8, 2005, the Company annonced its decision to proceed with the proposal to pursue alternatives for the separation of the chemical business, including a spinoff or sale.