• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 mins Wonders of Shale- Gas,bringing investments and jobs to the US
  • 5 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 1 min Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? To get Jared (Frisch School 2.8 GPA) a Mideast win with peace deal ? China greatest threat next 50 years.
  • 3 hours IMO2020 To scrub or not to scrub
  • 10 hours Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 5 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 44 mins Why is Strait of Hormuz the World's Most Important Oil Artery
  • 12 hours DUG Rockies: Plenty Of Promise, Despite The Politics
  • 2 hours California's Oil Industry Collapses Despite Shale Boom
  • 6 hours Greenpeace Blocks BP HQ
  • 4 hours Shale to be profitable in 2019!!!
  • 2 hours Global Warming Making The Rich Richer
  • 3 hours Crude oil?
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Trending Discussions

Occidental to Sell Stake in Largest US Gas Field

California-based oil and gas developer Occidental Petroleum Corporation (OXY) has announced plans to sell a $1.4 billion stake in the largest natural gas field in North America, as the company’s shares take a three-month dive.

Occidental will sell its Hugoton field assets for $1.4 billion as part of the company's effort to boost its quarterly dividend and share repurchase program as the company shares have fallen 4.9% in the last three months.

The company has begun selling off non-core assets, and the Hugoton Field divestment is part of its strategic review to streamline and focus operations where it has depth and scale to better execute its long-term strategy.

The company’s average net production at the field in 2013 was approximately 110 million cubic feet equivalent per day. Some 30% of that was oil, according to the company.

The sale is expected to be completed in the next two months and the buyer remains undisclosed.

The Hugoton field is said to be the largest natural gas field in North America and one of the largest in the world.

The Hugoton properties consist of more than 1.4 million net acres, spanning southwest Kansas, the Oklahoma panhandle, and eastern Colorado.

The company also announced that its Board has raised the dividend by $0.08 to $0.72 per quarter, or an annual rate of $2.88 per share, from the previous annual rate of $2.56 per share.

The Board also has authorized the repurchase of an additional 30 million shares of the company's common stock. The share repurchase authorization remaining at the end of 2013 was 7 million shares.

By Charles Kennedy of Oilprice.com




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News