OXY – The News Desk

Occidental to Acquire CrownRock in $12 Billion Deal

11Dec

By adminNo Comments

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

By adminNo Comments

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