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Occidental Petroleum Monetizes Non-Strategic Permian Resources Acreage and Enhances Permian EOR Business Resulting in Higher Net Production

Business Wire Monday, 19 June 2017 ()
Occidental Petroleum Monetizes Non-Strategic Permian Resources Acreage and Enhances Permian EOR Business Resulting in Higher Net ProductionHOUSTON--(BUSINESS WIRE)--Occidental Petroleum Corporation (NYSE:OXY) announced today that it has agreed to a number of purchase and sale transactions in the Permian Basin. On a combined basis, these transactions require no net cash outlay and add approximately 3,500 barrels of oil equivalent per day to the Company’s production. Occidental will reduce its Permian Resources position by 13,000 net acres, divesting non-strategic acreage in Andrews, Martin and Pecos Counties and adding incremental
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