Occidental Petroleum Sells Assets in $580M Deal

Deal News | Aug 22, 2025 | White & Case LLP

Occidental Petroleum Sells Assets in $580M Deal

Occidental Petroleum, a major international energy company, has completed a $580 million transaction involving the sale of certain gas gathering assets located in the Midland Basin. The buyer is an affiliate of Enterprise Products Partners, a prominent North American midstream energy services provider. White & Case LLP, a global law firm, represented Occidental Petroleum in this transaction. The legal advisory team included several experts from the firm's Houston and Washington, DC offices, specialized in various legal domains, including M&A, tax, real estate, and antitrust law. This strategic divestment is expected to streamline Occidental's operations and bolster Enterprise Products Partners' portfolio.

Sectors

  • Energy
  • Legal Advisory

Geography

  • United States – Both Occidental Petroleum and Enterprise Products Partners are based in the United States, and the assets involved are in the Midland Basin, a region in the U.S.

Industry

  • Energy – Both Occidental Petroleum and Enterprise Products Partners operate within the energy industry, specifically in oil, gas exploration, and midstream energy services.
  • Legal Advisory – White & Case LLP provided legal services to Occidental Petroleum in the transaction, involving advisory in M&A and antitrust among others.

Financials

  • 580000000 – The sale price for the gas gathering assets in the Midland Basin.

Participants

NameRoleTypeDescription
Occidental PetroleumSellerCompanyAn international energy company and one of the largest oil & gas producers in the United States.
Enterprise Products PartnersBuyerCompanyA leading North American provider of midstream energy services.
White & Case LLPLegal AdvisorCompanyA global law firm advising Occidental Petroleum on the transaction.