Tags: occidental | crownrock

Occidental Petroleum to Buy CrownRock in $12B Deal

Occidental Petroleum to Buy CrownRock in $12B Deal
(AP)

Monday, 11 December 2023 07:24 AM EST

Occidental Petroleum said Monday it would buy Permian basin-based energy producer CrownRock in a cash-and-stock deal valued at $12 billion.

Occidental said it would finance the purchase with $9.1 billion of new debt, the issuance of about $1.7 billion of common equity and the assumption of CrownRock's $1.2 billion of existing debt.

The deal is expected to close in the first quarter of 2024.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
Occidental Petroleum said Monday it would buy Permian basin-based energy producer CrownRock in a cash-and-stock deal valued at $12 billion.
occidental, crownrock
64
2023-24-11
Monday, 11 December 2023 07:24 AM
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