Occidental Petroleum’s “large position” in the Delaware Basin allowed the oil giant to achieve “efficiencies” of scale while expanding to other drill sites. She further notes that CrownRock’s inventory “helps to improve” Oxy’s own, and this synergy helps to accelerate cash flow generation, which she describes as “an acceleration of value” for shareholders. In the near term, the company is focusing on paying down debt and eventually resume repurchasing shares.

Oxy is in talks to buy closely held shale driller CrownRock LP, which is managed by Crownquest