ANALYSIS-Market for U.S. oil acreage booms along with crude price recovery [Reuters]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Reuters
Sales of land parcels worth $6.9 billion have been announced in the first five months of 2021, almost eclipsing the $7 billion recorded in all of 2020, according to data vendor Enverus. Last year was the worst for U.S. acreage sales since at least 2006, after energy prices plunged due to coronavirus-related demand destruction. More deals are on the way. Land worth more than $12 billion is either up for sale or being prepared to come to market in the United States, according to more than a dozen investment bankers and industry sources interviewed by Reuters. A 43% rise in U.S. crude prices this year to their highest since October 2018 has made unloved acreage desirable enough for a small group of buyout firms, as well as some publicly listed energy companies with money to spend. Those seeking to sell are oil and gas exploration and production companies seeking to pay down debt and redeploy capital for new drilling, and buyout firms that are often nursing losses on bets that went
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OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- OXY's page on the SEC website