Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
Headline from NBC New York
The transaction will add 170,000 barrels of oil equivalent per day to Occidental’s production and 1,700 locations to the company’s operations in the Permian.
NBC New York's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
The transaction will add 170,000 barrels of oil equivalent per day to Occidental’s production and 1,700 locations to the company’s operations in the Permian.
Occidental Petroleum Corp. said Monday that it was buying Midland, Texas-based oil and gas producer CrownRock L.P. for $12 billion to expand reach into the Permian Basin and other petroleum-rich regions.
Occidental Petroleum, a $50 billion energy company backed by investor Warren Buffett's Berkshire Hathaway firm, announced Monday it has acquired Texas oil producer CrownRock for $12 billion.
Houston-based Occidental Petroleum said it will purchase CrownRock in a $12 billion deal. It expects the transaction to close in the first quarter of 2024.
Occidental Petroleum Corp. agreed to acquire Texas shale driller CrownRock LP in a cash-and-stock deal valued at about $12 billion as consolidation heats up in North America’s most-prolific oil basin.
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Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend | Since Then
