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Elk Range Royalties Closes Landmark DJ Basin Acquisition and Launches Elk Range Royalties III

1. Elk Range acquires 250,000 net royalty acres from OXY affiliates for $905 million. 2. This transaction strengthens Elk Range's oil and gas presence in the DJ Basin.

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$47.6803/21 12:18 PM EDTEvent Start
$48.09503/24 12:40 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition indicates OXY's valuable asset monetization potential. Similar past deals have positively influenced OXY's stock by showcasing strategic asset management.

How important is it?

The sale underscores OXY's proactive asset management strategy, which could enhance investor confidence and provide liquidity.

Why Short Term?

Immediate financial implications may arise from this asset sale. Short-term market reactions to such significant transactions can lead to noticeable price movements.

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DALLAS--(BUSINESS WIRE)--Elk Range Royalties ("Elk Range") is excited to announce a landmark acquisition of a significant mineral and royalty position spanning approximately 250,000 net royalty acres (NRA) in the DJ Basin from affiliates of Occidental (NYSE: OXY). The $905 million transaction significantly expands Elk Range's presence in a premier oil and gas region and aligns with Elk Range's strategy of acquiring attractive royalty assets in core basins. The newly acquired assets are actively.

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