Oxy makes two $600M deals to sell, buy Permian assets

Houston-based Occidental Petroleum Corp. (NYSE: OXY) has sold acreage in one part of the Permian Basin and is using the proceeds to buy more land in another part.

Oxy sold 13,000 acres that were part of its horizontal drilling business line in Andrews, Martin and Pecos counties for $600 million. The buyer was not disclosed. That provides exactly the capital needed to purchase operational interest in infrastructure and fields associated with enhanced oil recovery operations in Glasscock County from…

Oxy makes two $600M deals to sell, buy Permian assets syndicated post

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s