Kerr-McGee Overview and Key Developments

Kerr-McGee was a leading American energy company that had a significant presence in the United States and abroad.

The company was founded in 1929 by J.W. Kerr and J.P. McGee.

Kerr-McGee's early years were marked by rapid growth and expansion, driven by the discovery of oil and natural gas reserves in Oklahoma.

The company's operations spanned multiple industries, including refining, chemicals, and nuclear energy.

Kerr-McGee's legacy is complex, with both notable achievements and environmental controversies.

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Kerr McGee was founded in 1929 as Anderson & Kerr Drilling Company by Oklahoma businessman-politician Robert S. Kerr and oil driller James L. Anderson.

The company changed its name to Kerr-McGee Oil Industries, Incorporated in 1946 after Dean A. McGee joined the firm as a former chief geologist for Phillips Petroleum.

Kerr-McGee was 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.

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In 1999, Kerr-McGee acquired the Oryx Energy Company of Dallas, Texas, gaining more onshore assets and significant assets in several foreign areas in Algeria and western Kazakhstan.

Kerr-McGee had two major divisions until 2005: chemical and oil-related.

Kerr-McGee's chemical division was sold as an IPO, Tronox, on November 21, 2005, making Oklahoma City home to the administrative side of Kerr-McGee.

Anadarko Petroleum purchased Kerr-McGee in an all-cash transaction totaling $16.5 billion plus the assumption of $2.6 billion in debt on June 23, 2006.

Kerr-McGee ceased to exist independently after its shareholders approved the offer on August 10, 2006, and all operations moved out of Oklahoma except for Tronox.

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The Silkwood case was a pivotal moment in Kerr-McGee's history, highlighting the company's alleged negligence and contamination of a worker. Karen Silkwood, a union activist, died in 1974 after investigating safety violations at the Cimarron Fuel Fabrication Site.

The Silkwood estate sued Kerr-McGee for damages, and the jury delivered a verdict of $505,000 in damages and $10,000,000 in punitive damages. This verdict was later reduced to $5,000 on appeal.

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Judge Frank Theis instructed the jury that if they found Kerr-McGee responsible for Silkwood's damage, the company would be liable. The Supreme Court ultimately restored the original verdict in 1984.

Kerr-McGee settled the case out of court in 1986 for $1.38 million, without admitting liability. Gerry Spence, a renowned trial lawyer, represented the Silkwood estate in this litigation.

Kerr-McGee's goal of becoming "the total energy company" led to a wide variety of resource enterprises, including uranium and plutonium mining, milling, and processing; chemicals and coal; contract drilling; refining; gasoline retailing; and timber.

Earnings dropped from $211 million in 1981 to $118 million in 1983 due to the company's diversification.

Dean McGee stepped aside as chairman in 1983 and was succeeded by Frank A. McPherson.

Kerr-McGee Corporation was incorporated in 1932 as A&K Petroleum Company.

The company has a long history, having started as a small drilling company during the Great Depression.

Kerr-McGee is a public company listed on several stock exchanges, including the New York, Boston, Midwest Pacific, and Philadelphia exchanges.

In the 1950s and 60s, Kerr-McGee began to diversify its operations.

The company's first foray into the uranium industry was in 1952, when it acquired mining properties on a Navaho reservation in Arizona.

Kerr-McGee completed its first uranium mill in 1954 and soon after began construction on the country's largest uranium-processing mill, which was brought onstream in 1958.

In 1955, Kerr-McGee entered major retailing with the purchase of the Deep Rock Oil Corporation.

The company formed a subsidiary, Deep Rock Oil Company, to continue this aspect of expansion and built upon an established base of service stations in the midwestern states.

Kerr-McGee expanded its refining capabilities with the purchase of Cato Oil and Grease Company and Triangle Refineries, a major wholesaler of petroleum products, in the mid-1950s.

The company's innovative methods in oil production helped it remain strong in a competitive industry, including the use of drilling devices that completed the largest vertical shaft successfully drilled by rotary methods in North America at the time in 1961.

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In 1962, Kerr-McGee commissioned the world's largest submersible offshore drilling unit, and in 1963, it built a new research center in Oklahoma City.

Kerr-McGee's growth and expansion continued, and in 1965, it became known as Kerr-McGee Corporation, a name that better represented the company's diversified holdings.

The company's major entry into the industrial chemicals market came with its 1967 merger with American Potash and Chemical Corporation, which gave it control of 13,000 acres of a dry lake bed in Searles Valley, California.

Kerr-McGee Corporation has several notable subsidiaries.

Kerr-McGee Canada Ltd. is one of the company's key subsidiaries. Kerr-McGee Chemical Corporation is another important subsidiary that focuses on inorganic industrial chemicals.

Kerr-McGee Coal Corporation is responsible for coal mining and marketing. Kerr-McGee Oil (U.K.) PLC is a subsidiary that operates in the United Kingdom.

Kerr-McGee Refining Corporation is also a subsidiary that plays a significant role in the company's operations.

Let's take a closer look at what some of the companies in the industry have to say about themselves.

The company's mission is to provide high-quality products that meet the needs of their customers.

According to their website, they have been in business for over 20 years, with a strong commitment to customer satisfaction.

Their products are designed to be eco-friendly and sustainable, with a focus on reducing waste and minimizing their carbon footprint.

One of the company's core values is to prioritize customer feedback and use it to inform their product development process.

They have a team of experienced professionals who work together to design, manufacture, and distribute their products.

The company's headquarters is located in a major city, with additional offices in several other countries.

Kerr-McGee had operations on land owned by the U.S. government, specifically the Bureau of Land Management and National Forest.

The company also operated on land owned by the Navajo Indian tribe.

Most of Kerr-McGee's U.S. operations were located in the Rocky Mountains, onshore Louisiana, and offshore in the Gulf of Mexico.

Kerr-McGee had a significant presence in downtown Denver and the Greenspoint area of Houston, where their main offices were located.

The company's corporate headquarters were in Downtown Oklahoma City.

Kerr-McGee owned a potash operation in California from 1974 to 1990.

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