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Occidental To Sell Its Onshore Assets In Colombia To Carlyle Group - Quick Facts

Occidental (OXY) has agreed to sell its onshore assets in Colombia to The Carlyle Group for total consideration of approximately $825 million, with $700 million up front and the remainder payable subject to certain production and commodity price targets. The deal includes operations and working interests in the Llanos Norte, Middle Magdalena and Putumayo Basins.

Occidental said it has announced over $2 billion of divestitures in 2020 that are anticipated to close by year-end. The company continues to advance additional asset sales.

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