Occidental Petroleum explores $1bn sale of Permian Basin assets to fund CrownRock acquisition debt.
Occidental Petroleum is exploring the sale of part of its Permian Basin assets, which could fetch over $1bn. This move aligns with the company's strategy to maintain a strong financial position after its pending acquisition of CrownRock. Occidental aims to sell up to $6bn of assets to help pay off debt related to the CrownRock acquisition, avoiding a repeat of the debt situation faced after acquiring Anadarko Petroleum.
May 06, 2024
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