Occidental Petroleum explores $1B Permian Basin asset sale to reduce $18.5B debt by 2023.
Occidental Petroleum (OXY) is exploring the sale of Permian Basin assets worth over $1B, working with a financial advisor for the sale process in the Barilla Draw region of the Delaware portion of the Permian Basin. The assets cover 27.5K net acres and produce 24.4K boe/day. The divestment is linked to a broader plan to reduce Occidental's $18.5B debt at the end of 2023.
May 03, 2024
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