Occidental Petroleum – The News Desk

Occidental to Acquire CrownRock in $12 Billion Deal

11Dec

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World

Occidental to Acquire CrownRock in $12 Billion Deal

Updated Dec. 11, 2023 7:49 am ETOccidental Petroleum has signed a $12 billion cash-and-stock deal to acquire the oil and gas producer CrownRock.Houston-based Occidental said Monday that it will take on $9.1 billion in new debt and issue $1.7 billion in new shares to finance the transaction, which sees it gaining CrownRock’s 94,000 net acres in the northern part of the Midland Basin in Texas. The acreage is part of the Permian basin, the largest oil producing region in the U.S.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Occidental Petroleum in Talks to Buy Permian Producer CrownRock

30Nov

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Money

Occidental Petroleum in Talks to Buy Permian Producer CrownRock

Occidental Petroleum is in talks to buy CrownRock, a major energy producer in the west Texas area of the Permian basin, continuing a frenzy of deal making in the oil patch.A deal for the closely held company, which could be valued well above $10 billion including debt, could come together soon assuming the talks don’t fall apart or another suitor doesn’t prevail, according to people familiar with the matter.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

30Nov

By adminNo Comments

World

Occidental Petroleum in Talks to Buy Permian Producer CrownRock

Occidental Petroleum is in talks to buy CrownRock, a major energy producer in the west Texas area of the Permian basin, continuing a frenzy of deal making in the oil patch.A deal for the closely held company, which could be valued well above $10 billion including debt, could come together soon assuming the talks don’t fall apart or another suitor doesn’t prevail, according to people familiar with the matter.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Warren Buffett bets on oil! Berkshire Hathaway joins oil-buying frenzy this week with Occidental Petroleum buys

27Oct

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Business

Warren Buffett bets on oil! Berkshire Hathaway joins oil-buying frenzy this week with Occidental Petroleum buys

Investor Warren Buffett has now joined the recent oil-buying spree with his Berkshire Hathaway resuming its purchases of Occidental Petroleum stock after a four-month hiatus. According to Associated Press, the company in a Securities and Exchange Commission filing revealed that it has invested over $246 million this week to add to its already significant stake in Occidental. With this latest purchase, Berkshire now controls nearly 26% of the Houston-based oil producer, owning more than 228 million shares.Buffett has been consistently buying Occidental stock since last year whenever its price fell below $60.However, this week, he was willing to pay over $63 per share for some of the new shares, the report said.These Berkshire purchases coincided with Chevron's announcement of its $53 billi...