Market Chatter: Occidental to Sell Rocky Mountain Assets to NGP

MT Newswires Live

Mar 01, 2025

Occidental Petroleum (OXY) sold over $900 million in assets in the US Rocky Mountains to private equity firm NGP Energy Capital, Bloomberg reported Friday, citing people familiar with the matter.

The buyer was undisclosed when the deal was first announced earlier this month, according to the report. Occidental sold certain assets in Colorado and the Permian basin in two deals worth a total of $1.2 billion. The buyer of the Permian basin assets is still under wraps, the news outlet reported.

Occidental and NGP did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 48.75, Change: +0.10, Percent Change: +0.21

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