Commodities & Energy

Reuters first to report Occidental seeks up to $700 million for Anadarko assets in Wyoming, Colorado

Reuters first to report Occidental seeks up to $700 million for Anadarko assets in Wyoming, Colorado

Reuters broke the news that Occidental Petroleum Corp is soliciting bids for oil and gas properties in Wyoming and Colorado that it acquired when it purchased Anadarko Petroleum, hoping the assets will fetch up to $700 million. They are among a string of smaller asset sales to further reduce the debt load of about $40 billion that Occidental took on with the Anadarko purchase. It has raised about $10 billion so far through sales of properties including a liquefied natural gas project in Mozambique and production in Africa.