Oxy makes two $600M deals to sell, buy Permian assets

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Houston-based Occidental Petroleum Corp. (NYSE: OXY) has sold acreage in one part of the Permian Basin and is using the proceeds to buy more land in another part. Oxy sold 13,000 acres that were part of its horizontal drilling business line in Andrews, Martin and Pecos counties for $600 million. The buyer was not disclosed. That provides exactly the capital needed to purchase operational interest in infrastructure and fields associated with enhanced oil recovery operations in Glasscock County from…


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