Permian Resources completed the acquisition of Delaware Basin assets from Occidental for $817m.

Permian Resources, an oil and natural gas company that engages in acquisition and development, completed the acquisition of Delaware Basin assets from Occidental, an American company engaged in hydrocarbon exploration as well as petrochemical manufacturing, for $817m. “This acquisition is a natural fit for us given its high-return inventory and proximity to our current operated position. As the Delaware Basin’s low-cost leader, we are highly confident that our team will be able to leverage its operational expertise of the asset to significantly reduce costs and drive meaningful synergies, maximizing value for our shareholders,” Will Hickey, Permian Resources Co-CEO.