Occidental Petroleum to Acquire CrownRock LP in a $12 Billion Deal
December 11, 2023
Occidental Petroleum entered into a purchase agreement to acquire Midland, Texas-based oil and gas producer CrownRock L.P. for approximately $12.0 billion, including the assumption of CrownRock’s debt. The deal is expected to close in the first quarter of 2024, subject to regulatory approvals and customary closing conditions.
- Buyers
- Occidental Petroleum
- Targets
- CrownRock L.P.
- Sellers
- CrownQuest Operating LLC, Lime Rock Partners
- Industry
- Oil & Gas
- Location
- Texas, United States
- Transaction Type
- Buyout
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