One-Page Deal Sheet
Occidental to Acquire California and Permian Basin Properties
Occidental Petroleum Corp Plains Exploration & Production Company
Announced Date
August 07,2006
Effective Date
October 01,2006
Close Date
September 29,2006
Transaction Type
Property
Enterprise Value (EV)($MM)
865
Asset/Basin:
{"Permian Basin","San Joaquin Valley","Los Angeles Basin"}
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Occidental Petroleum Corporation announced the acquisition of oil and gas assets from Plains Exploration and Production Company for $865 million. Occidental estimates that the acquisition will add proved reserves of approximately 56 million barrels of oil equivalent.
The principal properties being acquired are adjacent to Occidental's existing operations in California and the Permian Basin in West Texas.
"This transaction is consistent with our U.S. strategy of focusing on our core geographic areas in California and Texas," said Dr. Ray R. Irani, Chairman, President and Chief Executive…
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|---|---|---|---|---|---|
| Feb-02-2026 |
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| Jan-04-2024 |
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