OXY - Occidental Announces Expiration of Hart-Scott-Rodino Waiting Period for its Acquisition of CrownRock | Benzinga
HOUSTON, July 18, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced that the waiting period for its acquisition of CrownRock, L.P. (CrownRock, and such transaction, the CrownRock acquisition) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.
With the expiration of the waiting period, the conditions to closing have been satisfied, other than those that are to be satisfied at closing. The CrownRock acquisition is expected to close in August, after completion of the financing marketing period contemplated by the CrownRock purchase agreement.
"We look forward to closing our transaction with CrownRock in August and welcoming their high-performing team into our organization," President and Chief Executive Officer Vicki Hollub said. "We are progressing with the divestiture program that we believe will ultimately high-grade our portfolio and optimize returns for our shareholders."
About Occidental
Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Our Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. We are committed to using our global leadership in carbon management to advance a ...