Occidental, Ecopetrol form $1.5 billion joint venture

Occidental Petroleum and Colombia’s Ecopetrol have announced a $1.5 billion joint venture to develop acreage in the Midland Basin.

The joint venture is comprised of 97,000 net acres of Occidental’s holdings across Andrews, Ector, Glasscock, Howard, Martin, Midland, Reagan and Upton counties.

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Source: mrt.com