A reader noted this in
a story about OXY's 4Q12 earnings:
Asked about mergers and acquisitions, Chazen said there was
little on the horizon in terms of purchases in the Permian
basin, where it is focused. He side-stepped with a joke a
question on whether he would sell out of the high-priced Bakken
region around North Dakota, where Oxy has cut rigs.
"If somebody would like to buy my desk, if they pay the
right price, they are more than welcome to it," he said.
"There's not much in the drawers."
It will be interesting to watch this play out.
Note that in bold.
OXY has about 300,000 net acres in North Dakota; some of it in some nice fields, some acreage in areas not quite so good.
Good morning Bruce oxy has two very good fields fayette and cabernet hope they follow through and develop these fields to there potential if they chose to sell prematurely would be a loss for mineral owners and oxy.
ReplyDeleteYes, Cabernet and Fayette appear to be good fields, but results seem to be erratic -- at least in the early days. I haven't looked at this area in awhile. I don't think I would worry if another operator comes in; if another operator came in, I assume they would be eager to see what they might have -- thus, perhaps more drilling in the fields.
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