Current OXY Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture (JV) with Colombia-based Ecopetrol S.A. (stock ticker: EC) to develop 97,000 net acres of Occidental’s Midland Basin properties, subject to regulatory approvals.

As part of the JV, Ecopetrol will have access to 160 million BOE of proved undeveloped reserves. The company expects that its production levels will steadily increase until 2027, at which point the average will reach 95,000 BOEPD.

“We are excited to partner with one of the largest operators in the Pe...

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