Occidental to sell some Colorado, Utah assets for $1.33 billion
(Reuters) - Occidental Petroleum Corp said on Wednesday it will sell its Wyoming, Colorado, and Utah Land Grant assets to Orion Mine Finance for about $1.33 billion.
August 19, 2020
(Reuters) – Occidental Petroleum Corp <OXY.N> said on Wednesday it will sell its Wyoming, Colorado, and Utah Land Grant assets to Orion Mine Finance for about $1.33 billion.
The deal, expected to close in the fourth quarter, includes about 4.5 million mineral acres and 1 million fee surface acres.
Occidental said the transaction will initially include about 2.5 million mineral acres derived from the land grant in Colorado, including its core DJ Basin position.
(Reporting by Arathy S Nair in Bengaluru; Editing by Sherry Jacob-Phillips)