Anyone know who OXY just sold their non-core Permian assets to?

I was just going to post the same thing - more details

Between April and July 2025, Occidental (Oxy) completed multiple transactions totaling approximately $370 million, divesting non-core and certain non-operated Permian Basin upstream assets that are not within the company's near-term development plan, according to an Aug. 6 news release.

Oxy didn't disclose the buyers.



(Separately they announced this - Oxy agreed in July with an affiliate of Enterprise Products Partners (EPD) to sell an entity that owns certain gas gathering assets in the Midland Basin for $580 million)

Rumor I'm hearing is GreenLake

If it's in the Delaware, then it's almost certainly Greenlake. They were already drilling through some of Oxy's acreage on some laterals.

I was in their office last week - will inquire..

BigLeftMiss08 said:

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Rumor I'm hearing is GreenLake

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They did a small acquisition with Oxy back in May but nothing big - I don't think it's them for this larger one

Anyone know who is picking up the COP Anadarko basin assets for $1.3B?

jetch17 said:

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Anyone know who is picking up the COP Anadarko basin assets for $1.3B?

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Flywheel?

Flywheel

Nice thanks, sorry if I missed that previously

jetch17 said:

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Nice thanks, sorry if I missed that previously

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The name was not announced - I got a hint from someone that works there so was pretty sure it was happening - he confirmed this am

Diamondback is a possibility

Sounds like it was Delaware assets, so highly doubt it was Diamondback. Also, as a publicly traded company, I'm sure it would have been announced it was Diamondback. Most likely, seeing that buyer wasn't disclosed, it's a PE group.

https://www.msn.com/en-us/money/markets/bp-layoffs-expand-by-32-as-energy-giant-shifts-focus-to-traditional-oil/ar-AA1K68et


Even as BP slashes jobs and restructures its global operations, the company is still making major bets on oil. On Monday, BP announced it may have uncovered a massive oil and gas deposit in the Santos Basin off the coast of Brazil, roughly 218 nautical miles from Rio de Janeiro. It's a clear sign that BP is doubling down on big, traditional oil projects-even as it scales back on renewables and trims spending elsewhere.

They've always been good finding plays. Doing anything other than selling them since Macondo is a different story.

Also announced an additional 1300 headcount reduction in Houston.

EIA Short term energy outlook came out yesterday. Check out their forecast. Estimate sub $50 for a brief moment for oil and gas shooting to over $5.

https://www.eia.gov/outlooks/steo/

Comeby! said:

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EIA Short term energy outlook came out yesterday. Check out their forecast. Estimate sub $50 for a brief moment for oil and gas shooting to over $5.

https://www.eia.gov/outlooks/steo/

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That would be a good screenshot to post here so that we can look back and find out if it was accurate

It might be… But we also know there will be geopolitical disruption, and other things that could swing it differently

But thanks for posting - it is possible

nosoupforyou said:

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Comeby! said:

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EIA Short term energy outlook came out yesterday. Check out their forecast. Estimate sub $50 for a brief moment for oil and gas shooting to over $5.

https://www.eia.gov/outlooks/steo/

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That would be a good screenshot to post here so that we can look back and find out if it was accurate

It might be… But we also know there will be geopolitical disruption, and other things that could swing it differently

But thanks for posting - it is possible

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EIA's forecasting is…not great.

I just heard that TOI let go of around 1/5th of their houston office.

Who's TOI?

Comeby! said:

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Who's TOI?

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Transocean International.

still no news on who Civitas sold their DJ asset to?


The company also announced agreements to sell non-core assets in the northern Denver-Julesburg (D-J) Basin for a total of $435 million.

I know Ensign was looking to get into a new asset since the marathon sale and was pursuing CIVI hard - no clue if they were successful

If you know of someone (company) that's usually correct, please post. I've never found any forecast accurate enough to build a capex budget, marketing plan, sales pipeline, etc from. At least not accurate enough to please a board!

Not defending the EIA, but if I'm reading the chart correctly, they're not saying $5 nat gas until 2027. It will change 50x between now and then. They have to predict something…

Agreed but go watch Aegis Hedging's webinars for the some of the underlying data that supports some of this. True EIA has no P&L responsibility.

Is there any easily accessible lookback for O&G pricing/supply/demand from the various oracles?

This is starting to give me flashbacks of 2007 / 2008.

AgLA06 said:

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This is starting to give me flashbacks of 2007 / 2008.

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In what ways? I was in school at that time and was completely oblivious to anything O&G related.

nm

MavsAg said:

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AgLA06 said:

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This is starting to give me flashbacks of 2007 / 2008.

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In what ways? I was in school at that time and was completely oblivious to anything O&G related.

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I was in school then too and I remember gas being well over $4/gallon in Texas only for the bottom to fall out a semester before I graduated and half of the companies at the SEC career fair stating there were there just so we knew they existed but weren't taking any applications at this time. Graduating unemployed with a MEEN degree was not a great feeling