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Will Occidental Pare Assets to Soften Blow of $2 Billion Permian Acquisition?

Occidental Petroleum (OXY) , a traditionally conservative deal maker, has joined the rest of the U.S. oil and gas industry in bolstering its operations in West Texas' lucrative Permian Basin ahead of a commodity upturn that many hope is on the horizon.

The Houston based oil and gas explorer and producer, which has substantial assets in the Delaware Basin, a sub-basin of the Permian, said Monday, Oct. 31, after the markets closed that it will acquire a package of assets in the Permian...


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