One-Page Deal Sheet
Occidental Petroleum Agrees to Purchase California and Texas Properties
Occidental Petroleum Corp Plains Exploration & Production Company
Announced Date
March 01,2007
Effective Date
October 01,2006
Close Date
September 29,2006
Transaction Type
Property
Enterprise Value (EV)($MM)
865
Asset/Basin:
{"San Joaquin Valley","Los Angeles Basin","Permian Basin"}
TargetZones:
{"Asphalto field","B
Location
Calculated Metrics( EV/Category)
Country
United States
State
California
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Occidental Petroleum Corp. has agreed to buy oil and gas properties, mainly in California and Texas, from Plains Exploration & Production Co., Houston, and certain subsidiaries, for $865 million. The transaction is expected to close by Sept. 30.
The properties being acquired by Oxy include interests in Asphalto, Buena Vista, and Mt. Poso fields in California’s San Joaquin Valley, Sansinena field near Plains E&P’s Montebello field in the Los Angeles basin, Pakenham field in West Texas, and several minor properties.
Plains E&P’s independent reserves engineers estimated these producing properties…
United States Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Sep-15-2025 |
-  |
- |
Click here | California | E&P |
| Feb-07-2024 |
- |
- |
Click here | California | E&P |
| May-19-2022 |
- |
- |
Click here | California | E&P |
| Aug-18-2021 |
- |
- |
Click here | California | Service |
| Jul-23-2019 |
- |
- |
Click here | California | E&P |
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
- |
- |
Click here | Texas | E&P |
| Feb-18-2026 |
- |
- |
Click here | Texas | E&P |
| Feb-02-2026 |
- |
- |
Click here | Texas | E&P |
| Jan-16-2026 |
- |
- |
Click here | Texas | E&P |
| Jan-08-2026 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-07-2024 | California Resources To Acquire Aera Energy For $2.1 Billion | -
|
|
| May-21-2019 | Yuma Energy Sells California Assets as it Looks to Pay Down Debt | -
|
1,762 |
| Apr-10-2018 | California Resources Acquires San Joaquin Assets from Chevron | -
|
1,053 |