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WES - Occidental Petroleum: High Value JV Offset By Poor Midstream Performance
Western Gas Partners LP Limited Partner Interests
Occidental Petroleum (OXY) filed their Q2 2019 earnings after the close July 31. The highlight of the report was a $1.5 billion joint venture with EcoPetrol (EC) in the Midland basin. Additionally, well productivity in OXY's core Delaware Basin area continued to tick up. The bad news came a day before, with a large miss by Western Midstream (WES), a key component of OXY's acquisition of Anadarko (APC).
Here is a slide from OXY's earnings deck on the JV: