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Oxy in Talks with Wyoming for Potential Land Deal

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   |    Tuesday,March 03,2020

Occidental Petroleum is currently in talks to sell a chunk of acreage in Wyoming back to the state, according to a report by The Financial Times.

Several bills that would make the sale possible are currently making their way through the Wyoming legislature.

While minimal information about the talks was disclosed, the asset in question amounts to approximately 1.0 million surface acres and 4.0 million subsurface mineral rights acres. According to a recent Oxy presentation, its Wyoming acreage covers the Powder River and DJ basins.

The Financial Times estimates the sale could fetch anywhere from $1.0-3.0 billion.

 


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