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BRIEF-Occidental Petroleum agrees to number of purchase, sale transactions in Permian Basin
June 19, 2017 / 1:44 PM / 3 months ago

BRIEF-Occidental Petroleum agrees to number of purchase, sale transactions in Permian Basin

June 19 (Reuters) - Occidental Petroleum Corp:

* Has agreed to a number of purchase and sale transactions in Permian Basin

* On combined basis, transactions require no net cash outlay and add about 3,500 barrels of oil equivalent per day to company’s production

* Net Permian resources transactions will generate proceeds of approximately $0.6 billion

* Will reduce its Permian resources position by 13,000 net acres, divesting non-strategic acreage in Andrews, Martin and Pecos counties

* Also agreed to increase its ownership interests and assume operatorship of a CO(2) enhanced oil recovery (EOR) property Source text for Eikon: Further company coverage:

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