Ecopetrol Opts Out of $3.6 Billion Deal from Occidental
- Firms were negotiating deal for stake in Permian Basin
- Deal would have expanded Colombia state oil firm’s reserves
This article is for subscribers only.
Colombia’s state oil company, Ecopetrol SA, has decided against buying a $3.6 billion stake in Permian Basin assets from Occidental Petroleum Corp.
The company told Occidental Wednesday that it had opted not to acquire the 30% stake in the assets it has agreed to buy from CrownRock LP, according to a filing Thursday.