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Oxy Moves to Put Uinta Basin Asset Up for Sale
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Occidental Petroleum is shopping around its Uinta Basin asset as part of its initiative aimed to cut debt following its $B mega-acquisition of Anadarko Petroleum Corp., according to a report by Reuters.
The Uinta Basin property being sold was one of the assets Oxy acquired in the Anadarko deal. A sale of the asset could fetch up to $240 million, according to the report.
Asset Details
The asset is located in Uintah County, Utah and spans ~189,000 net acres.
Activity on the acreage has been quiet in recent years (the asset has not seen any drilling activity since 2016).
Oxy declined to comment on the report.
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