One-Page Deal Sheet
Occidental Petroleum Acquires Permian and Piceance Basin Assets
Occidental Petroleum Corp Plains Exploration & Production Company
Announced Date
September 25,2008
Effective Date
December 01,2008
Close Date
December 01,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
1200
Location
Calculated Metrics( EV/Category)
Region
Permian,Rockies - Piceance/Uinta
Country
United States
State
Colorado
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Occidental Petroleum Corporation (NYSE:OXY) today announced the signing of a definitive purchase and sale agreement with Plains Exploration & Production (NYSE:PXP) to purchase the following properties for $1.55 billion:
* 50 percent of PXP's working interests in oil and gas properties located in the Permian Basin, West Texas and New Mexico. Occidental expects to be named the operator of all the assets currently operated by PXP; and
* 50 percent of PXP's working interests in oil and gas properties located in the Piceance Basin in Colorado. PXP will remain the operator and Occidental expects…
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