It has been one of the worst kept secrets in the Oil Patch, and has led to all types of speculation on the world wide web, in both blogs as well as online reports by “respected” analysts within the industry.I track Primary Petroleum at "other producers."
For the first time, The Sun Times is able to report that the “JV” or “Joint Venture” partner that now owns 32.5 percent of Primary Petroleum Company is OXY USA Inc.
The Sun Times uncovered details of the transaction two weeks ago when researching documents related to oil and gas exploration in Teton County. Since the deal took place last year, the rumor mills have been rampant. For the most part, the speculation was close, but not on target.
When the agreement was made last year, The Sun Times was advised by reliable sources that Occidental Petroleum Corporation, based in Los Angeles, California was the new partner. However, the California headquarters refused to confirm the deal when contacted, so it was decided not to go with the story.
For newbies: the Alberta Bakken is NOT the same thing as the Williston Basin Bakken.
