Occidental Finance Chief Pledges To Act Quickly To Pare Acquisition Debt

www.oann.com | 4/30/2019 | Staff
TwiztedGurl (Posted by) Level 3
DENVER (Reuters) – Occidental Petroleum Corp expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday.

Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week, told an Enercom energy conference audience, the resulting debt burden was “not that bad,” and pledged Occidental would be selective in choosing assets to sell.

Purchase - Activist - Carl - Icahn - Oil

He defended the purchase, which has been attacked by activist Carl Icahn as “misguided and hugely overpriced,” as providing future oil production as a good valuation. Icahn is seeking...
(Excerpt) Read more at: www.oann.com
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