Occidental Petroleum (OXY) has released an update.
Occidental Petroleum Corporation agreed to acquire all outstanding partner interests of CrownRock, L.P. from CrownRock Holdings, L.P. and its associated entities under a Purchase Agreement dated December 10, 2023. The completion of this transaction is subject to regulatory approval, including compliance with the Hart-Scott-Rodino Antitrust Improvements Act. As part of this process, Occidental and the sellers received a Second Request from the FTC on January 19, 2024, which extended the regulatory review period. Both parties are actively engaging with the FTC to move the acquisition forward.
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