1 Key Driver for Occidental Petroleum's Future
Nov 1st 2013 9:49AM
Updated Nov 1st 2013 9:50AM
For investors in Occidental Petroleum , all of the moves that the company is pursuing may make your head spin. Between the sell-off of its equity stake in Plains GP Holdings and the shedding of some of its international assets, the company will look different in the next few months. There is one consistent thing about Occidental, though, and it will continue to be the primary driver for this company: the Permian Basin.
With about 70 years of drilling in the Permian, Occidental has numerous assets there, and has been very successful in turning enhanced oil recovery into a cash cow. But with so much attention coming from companies like Pioneer Natural Resources regarding the size of the Permian's potential as a shale drilling prospect. Occidental is moving toward more unconventional drilling in the region. Find out why Occidental has a great chance of succeeding in the Permian's shale rush by tuning into the video below.
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The article 1 Key Driver for Occidental Petroleum's Future originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter @TylerCroweFool. The Motley Fool recommends Kinder Morgan and Magellan Midstream Partners, L.P.. The Motley Fool owns shares of Kinder Morgan. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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