Occidental exploring sale of some Permian assets worth over $1B, Reuters reports

Occidental Petroleum (OXY) is taking a look at a sale of part of its Permian Basin operations as part of the company’s broader plan to slash its debt, Reuters’ Shariq Khan and David French report. A sale of some of the Permian assets could fetch more than $1B, according to people familiar with the matter. Occidental, which is backed by Berkshire Hathaway (BRK.A) is working with a financial adviser on the sale process for the assets in the Barilla Draw region of Texas, the sources say.