$51 Billion United States Oil & Gas Giant Occidental Completes $12 Billion Acquisition of CrownRock
7th August 2024 | Hong Kong
United States oil & gas giant Occidental ($51 billion market value) has completed the $12 billion acquisition of CrownRock. Occidental (11/12/23): “Occidental (NYSE: OXY) today announced it entered into a purchase agreement to acquire Midland-based oil and gas producer CrownRock L.P., a joint venture of CrownQuest Operating LLC and Lime Rock Partners, for cash and stock in a transaction valued at approximately $12.0 billion, including the assumption of CrownRock’s debt.”
“ $51 Billion United States Oil & Gas Giant Occidental Completes $12 Billion Acquisition of CrownRock “
CrownQuest Operating – CrownQuest Operating is a privately owned company based in Midland, TX. It has managed the CrownRock LP partnership since its inception in 2007. CrownQuest and its predecessors have operated in the Permian Basin since their founding in 1996. The company continues its other business interests, primarily in land and minerals management.
Occidental – Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Our Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. We are committed to using our global leadership in carbon management to advance a lower-carbon world.
$51 Billion United States Oil & Gas Giant Occidental Completes $12 Billion Acquisition of CrownRock
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