MarketWatch is reporting today that Occidental Petroleum Corp plans to invest $3.2 billion in U.S. oil and gas properties and oil pipelines. The investments include 180,000 acres in the Bakken and Three Forks formations in North Dakota being purchased from a private seller for $1.4 billion. The company also plans to increase its ownership stake in Plains All American Pipeline from 13% to 35%, according to the MarketWatch report. Read more...
Related links...
Occidental to acquire North Dakota, Texas oil and gas fields for $3.2 billion
http://www.latimes.com/business/la-fi-occidental-20101210,0,5711857.story
Occidental to Buy Texas, Dakota Fields, Exit Argentina
http://www.sfgate.com/cgi-bin/article.cgi?f=%2Fg%2Fa%2F2010%2F12%2F10%2Fbloomberg1376-LD7P626S972D01-75IV2EMKL2O154SHFJDAR4OLOM.DTL
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