Colgate Energy Partners to acquire the southern Delaware Basin assets of Occidental for $508m.

Colgate Energy Partners, a privately held, independent oil and natural gas company, agreed to acquire the southern Delaware Basin assets of Occidental, an American company engaged in hydrocarbon exploration, for $508m. "The acquisition of these assets in the core of the Southern Delaware Basin is a transformational deal for Colgate that checks all of the boxes of our acquisition criteria. It is a great mix of low decline production and high rate of return locations that will immediately compete for capital with our existing portfolio. Given the proximity to our current assets, we are confident that we can leverage our ongoing operations to maximize the value of this acquisition for our investors," Will Hickey, Colgate Co-CEO.