Occidental selling U.S. gas assets for $1.4 billion

Thu Feb 13, 2014 4:18pm EST

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Feb 13 (Reuters) - Occidental Petroleum Corp on Thursday said it reached a deal to sell its interests in a large natural gas field in the central United States for a pre-tax price of $1.4 billion, with proceeds earmarked for share repurchases.

The buyer was not disclosed.

Occidental's interest comprises more than 1.4 million acres in the Hugoton field that spans southwestern Kansas and parts of Oklahoma and Colorado.