Occidental Hopes to Close CrownRock Acquisition by August

Occidental Petroleum hopes it will have closed its $12-billion planned acquisition of Permian oil and gas producer CrownRock by the next quarterly earnings report at some point in August 2024, Oxy’s chief executive Vicki Hollub said on the Q1 call with analysts.   At the end of last year, Oxy said it would buy CrownRock for cash and stock in a deal valued at around $12 billion, including debt, with which it joined the wave of mergers and acquisitions in the U.S. oil industry. The acquisition will boost Occidental’s…