Kerr-McGee Corporation - 1976 dated $5,000 Registered Bond
Inv# GB5735 Bond
$5,000 8 1/2% Bond printed by Security-Columbian Banknote Company. Kerr-McGee Corporation, established in 1929, was an American energy enterprise engaged in oil exploration, crude oil production, natural gas extraction, perchlorate manufacturing, and uranium mining and milling across various nations. On June 23, 2006, Anadarko Petroleum completed an all-cash acquisition of Kerr-McGee, amounting to $16.5 billion, in addition to assuming $2.6 billion in debt, leading to the relocation of all operations from their headquarters in Oklahoma, United States. Following subsequent acquisitions, the majority of the former Kerr-McGee has been integrated into Occidental Petroleum.
The entity that would eventually become Kerr-McGee was originally founded as Anderson & Kerr Drilling Company in 1929 by Robert S. Kerr, an Oklahoma businessman and politician, alongside oil driller James L. Anderson. The firm underwent a name change to Kerr-McGee Oil Industries, Incorporated in 1946 when Dean A. McGee, a former chief geologist at Phillips Petroleum, joined the company. Initially, the company concentrated on offshore oil exploration and production, being among the pioneers in utilizing drillships in the Gulf of Mexico and later adopting Spar platform technology in the region.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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