OXY: Occidental Petroleum Corp Message Board

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Gold/Mining/Energy : OXY: Occidental Petroleum Corp

OXY 40.26

-0.8%

10:15 AM EDT

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From: george steven	8/10/2006 6:57:34 PM
	of 24

Occidental To Buy Oil, Gas Assets From Plains Exploration 07 Aug 08:58 DOW JONES NEWSWIRES Plains Exploration & Production Co. (PXP) said Monday it would sell nonstrategic properties for $865 million in cash to Occidentail Petroleum Corp. (OXY). The transaction includes oil fields in Texas and California. "The significant interest by multiple parties in these non-core properties highlights the premium value of Plains Exploration's assets that we continue to produce and to develop during this unprecedented petro-economic cycle," the company said. Lehman Brothers (LEH) and Randall & Dewey, a division of Jefferies & Company (JEF), assisted Plans Exploration in the sale.

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