Occidental Petroleum Divests Denver-Julesburg Basin Assets for $905 Million
Deal News | Mar 21, 2025 | White & Case
Occidental Petroleum has announced the sale of its Denver-Julesburg Basin assets for a total of $905 million to Elk Range Royalties. The transaction reflects Occidental's strategic decision to divest non-core assets in order to better focus on their central operations and strengthen their balance sheet. White & Case, a global law firm known for advising on complex transactions, provided legal advisory services for Occidental during this sale. This deal marks a significant move in the oil and gas sector, potentially influencing market dynamics as other companies may re-evaluate their asset portfolios.
Sectors
- Oil and Gas
- Legal Advisory
Geography
- United States – The assets involved in the transaction are located in the Denver-Julesburg Basin within the United States, and the parties involved are U.S. based companies.
Industry
- Oil and Gas – The transaction involves the divestment of oil and gas assets from the Denver-Julesburg Basin by Occidental Petroleum, a prominent player in the energy sector.
- Legal Advisory – White & Case provided legal advisory services for the asset sale, showcasing the role of legal firms in large M&A transactions within the industry.
Financials
- US$905 million – The total transaction value for the sale of Occidental's Denver-Julesburg Basin assets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Occidental Petroleum | Seller | Company | An international energy company primarily engaged in oil and gas exploration and production. |
| Elk Range Royalties | Buyer | Company | A company focused on acquiring and managing oil and gas interests. |
| White & Case | Legal Advisor | Company | A global law firm that provided legal advisory services to Occidental Petroleum in the asset sale. |