Occidental acquires Nations Petroleum's Lost Hills holdings in California
In January 2011, Occidental completed the acquisition of Nations Petroleum's Lost Hills field leasehold in the San Joaquin Basin, California for an undisclosed consideration. In addition to the producing Lost Hills asset, the acquired acreage is prospective for the embryonic Monterey Shale. This is by no means a large transaction; we estimate that the purchase price is likely to have been in the US$500 million to US$1 billion range. However, it represents the first sizable deal in ...