Brought to you today by Occidental Petroleum and Black Bear Transmission, Reese Energy Consulting is following the latest round of asset sales across the nation’s oil and gas industry as operators work to make deep dents in debt load and get leaner, faster. Houston-based Occidental, fresh off a $1.33 billion divestiture of assets in Wyo., Colo., and Utah in August, now has bid adieu to its onshore Colombia position for $825 million into the arms of The Carlyle Group. Oxy continues talks with Indonesia’s Pertamina to shave a potential $4.5 billion off the balance sheet with the sale of assets in Africa and the Middle East the company inherited—and looked to shed first—in last year’s $38 billion acquisition of Anadarko. In pipeline news, Houston-based Black Bear Transmission has waved bye-bye to its Ozark Gas Gathering subsidiary. As part of an April deal with Enbridge for the real diamond—the interstate Ozark Gas Pipeline—the gathering system never aligned with Black Bear’s focus on transmission. The 367-mile Ozark Gas Pipeline extends from Oka., through Ark., and into Mo. Looks like a whole lotta shakin’ goin’ on.
What do you think?
Learn more about REC at www.ReeseEnergyConsulting.com.