Occidental Petroleum Corporation (NYSE:OXY) is in talks to buy CrownRock, L.P. in a deal that could value the company well above $10 billion including debt, the Wall Street Journal reported on November 29, 2023, citing people familiar with the matter. Sources told Reuters in September that the private equity-backed company, which is led by Texas billionaire businessman Timothy Dunn, had initiated discussions with investment banks about hiring advisers to run a sale process that will kick off by early 2024. Occidental did not immediately respond to a Reuters' request for comment on Wednesday, while CrownRock could not be immediately reached.
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