Occidental Petroleum Corporation (OXY)
Occidental agrees to sell assets in Texas and New Mexico to Permian Resources for about $818 million
Occidental Petroleum Corp. OXY said Monday it has agreed to sell Delaware Basin assets in Texas and New Mexico to Permian Resources Corp. PR for about $818 million, and said it has separately completed other asset sales totaling about $152 million. Houston-based Occidental said the $970 million of proceeds would be used to reduce debt, part of a previously announced $4.5 billion to $6.0 billion divestiture program that is due to be completed within 18 months of the close of the acquisition of CrownRock L.P.
Occidental Petroleum to sell some assets for $818 mln to Permian Resources
U.S. oil and gas producer Occidental Petroleum said on Monday it would sell certain Delaware Basin assets in Texas and New Mexico to Permian Resources for about $818 million.
Occidental (OXY) Gains 5.4% in 15 Days: Should You Hold or Fold?
Occidental's (OXY) premier position in the Permian basin and ongoing initiatives to strengthen its balance sheet are likely to boost its performance despite its premium valuation and lower return than the industry.
Here's Why Occidental Petroleum (OXY) Fell More Than Broader Market
In the latest trading session, Occidental Petroleum (OXY) closed at $60.41, marking a -1.31% move from the previous day.
Occidental (OXY) Climbs 5.7% in 2024: Is Warren Buffet Right?
Shares of Occidental (OXY) are up 5.7% in 2024 on wise acquisitions and expansions, and Warrant Buffet has raised his stake in the company.
Trade of the Day: Buy Call Options on Occidental Petroleum (OXY) Stock Before Nov. 5
Occidental Petroleum (NYSE: OXY ) has been swinging higher in recent sessions, likely on political catalysts. With former President Donald Trump enjoying strong reelection momentum, his pro-fossil-fuel stance may lift OXY stock.
Warren Buffett Is Buying Shares of This Company. Should You Do the Same?
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Why Occidental Petroleum (OXY) is a Top Momentum Stock for the Long-Term
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Occidental Petroleum (OXY) Increases Yet Falls Behind Market: What Investors Need to Know
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $62.12, denoting a +0.19% change from the preceding trading day.
Prediction: This Will Be Occidental Petroleum's Next Big Move
Occidental agreed to acquire CrownRock last year. The debt-funded deal will require the company to sell assets to strengthen its balance sheet.
Occidental: The Only Oil Stock To Buy And Hold Long-Term
Oil stocks have underperformed the markets considerably over the last decade, due to a lack of structural growth. Occidental, however, has the potential to outperform industry peers due to its extensive Delaware basin acreage position and technological development. Focus on cost reduction and increasing oil recovery in the Permian will drive value growth for Occidental, even if mid-term oil prices remain stagnant.
Occidental Petroleum (OXY) Ascends But Remains Behind Market: Some Facts to Note
Occidental Petroleum (OXY) concluded the recent trading session at $61.41, signifying a +0.64% move from its prior day's close.
