Deals
Occidental to Buy Texas, Dakota Fields, Exit Argentina
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Occidental Petroleum Corp., the largest onshore crude producer in the continental U.S., agreed to pay $3.2 billion to expand oil and gas holdings in Texas and North Dakota as it announced a separate deal to exit Argentina.
The U.S. purchases, from Royal Dutch Shell Plc and an unnamed seller, eventually will add the equivalent of 100,000 barrels of daily crude production, Los Angeles-based Occidental said in a statement today. China Petrochemical Corp. agreed to buy Occidental’s Argentine oil and natural-gas subsidiary today for $2.45 billion.