Occidental, an American company engaged in hydrocarbon exploration, agreed to acquire CrownRock, a Midland-based oil and gas producer, for $12bn. "We believe the acquisition of CrownRock’s assets adds to the strongest and most differentiated portfolio that Occidental has ever had. We found CrownRock to be a strategic fit, giving us the opportunity to build scale in the Midland Basin and positioning us to drive value creation for our shareholders with immediate free cash flow accretion. We are excited about combining CrownRock’s high-performing team into our organization and expect to continue Occidental’s exceptional operational and financial results for years to come," Vicki Hollub, Occidental President and CEO.