Permian Resources Enters Agreement With Occidental To Purchase Core Delaware Basin Assets For ~$817.5M
Portfolio Pulse from Benzinga Newsdesk
Permian Resources has entered into an agreement with Occidental to purchase core Delaware Basin assets for approximately $817.5 million.
July 29, 2024 | 10:37 am
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POSITIVE IMPACT
Occidental is selling core Delaware Basin assets to Permian Resources for $817.5 million, which could provide a significant cash inflow and potentially streamline its operations.
The sale of core assets for $817.5 million will provide Occidental with a significant cash inflow, which could be used to streamline operations or reduce debt, potentially having a positive short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Permian Resources is acquiring core Delaware Basin assets from Occidental for $817.5 million, which could enhance its asset base and production capabilities.
The acquisition of core assets in the Delaware Basin is likely to enhance Permian Resources' asset base and production capabilities, which could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100