White & Case Advises Occidental Petroleum on Approximately US$818 Million Sale of Certain Delaware Basin Assets to Permian Resources

Global law firm White & Case LLP has advised Occidental Petroleum (NYSE: OXY), an international energy company and one of the largest oil & gas producers in the United States, on its approximately US$818 million sale of certain Delaware Basin assets in Texas and New Mexico to Permian Resources, an independent oil and natural gas company.

This transaction involves the sale of approximately 27,500 net acres in the Barilla Draw Field of the Texas Delaware Basin and approximately 2,000 net acres in the New Mexico Delaware Basin, with combined net production for the fourth quarter of 2024 estimated at approximately 15,000 barrels of oil-equivalent per day. The closing is expected to occur in the third quarter of 2024, subject to customary conditions.

The White & Case team was led by M&A partners Mingda Zhao and Emery Choi, and included M&A associates Anil Tanyildiz, Helen Xiang and Daniel Miller (all in Houston); Environment & Climate Change partner Taylor Pullins and associate Sam McCombs (both in Houston); Tax partner Chad McCormick, and associates Neil Clausen and Sadi Moradi (all in Houston); Antitrust partner Rebecca Farrington and counsel Douglas Jasinski (both in Washington, DC); Employment, Compensation & Benefits partner Victoria Rosamond and associate Peter Shelburne (both in New York); and Energy Regulatory associate R.J. Colwell (Houston).

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