Current OXY Stock Info

Reuters reports that Occidental Petroleum (ticker: OXY) is leaving the Williston Basin, announcing a $500 million sale with Lime Rock Resources for its 303,000 net acres. The deal, if finalized, equates to just $1,650 per net acre, roughly half of Capital One Securities’ estimated value of approximately $3,300 per net acre. Other agencies believed the region held roughly $3.0 billion in value ($6,000 per acre) prior to the commodity downturn.

OXY management said it was marketing the Williston properties in a Q2’15 conference call, saying the...

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