Occidental to sell 190,000 acres worth of mineral rights in northern Larimer, Weld counties

WELD COUNTY — The largest oil producer by volume in Weld County is soliciting bids for a major sale of land and mineral rights across Utah, Wyoming and Colorado as it tries to reduce a major pile of debt.

A map shows Occidental Petroleum Corp.’s planned mineral and land rights sale in Wyoming, Colorado and Utah. Courtesy Wyoming Governor’s Office

Houston-based Occidental Petroleum Corp. (NYSE: OXY) is offloading more than 4 million acres of mineral rights and more than 1 million acres of land surface, according to an announcement from Wyoming governor Mark Gordon’s office. Wyoming is considering bidding on 1 million acres of surface area and 4 million acres of mineral rights that the company acquired when it purchased Anadarko Petroleum Corp. last August for $55 billion.

In Colorado, Occidental is planning to sell 140,000 acres worth of mineral rights located mostly in northern Larimer County, 50,000 acres in Weld County near the Wyoming border, and less than 10,000 acres each in Logan and Sedwick counties. Less than 1,000 acres of surface acres are up for sale across the state.

Gordon’s office said Occidental asked for bids to be submitted by July 1.

Neither the Colorado Oil and Gas Conservation Commission nor Larimer County officials said they had specific information about the parcels in the county up for sale. 

Occidental did not return multiple requests for comment Thursday.

© 2020 BizWest Media LLC

WELD COUNTY — The largest oil producer by volume in Weld County is soliciting bids for a major sale of land and mineral rights across Utah, Wyoming and Colorado as it tries to reduce a major pile of debt.

A map shows Occidental Petroleum Corp.’s planned mineral and land rights sale in Wyoming, Colorado and Utah. Courtesy Wyoming Governor’s Office

Houston-based Occidental Petroleum Corp. (NYSE: OXY) is offloading more than 4 million acres of mineral rights and more than 1 million acres of land surface, according to an announcement from Wyoming governor Mark Gordon’s office. Wyoming is considering bidding on 1 million acres of surface area and 4 million acres of mineral rights that the company acquired when it purchased Anadarko Petroleum Corp. last August for $55 billion.

In Colorado, Occidental is planning to sell 140,000 acres worth of mineral rights located mostly in northern Larimer County, 50,000 acres in Weld County near the Wyoming border, and less than 10,000 acres each in Logan and Sedwick counties. Less than 1,000 acres of surface acres are up for sale across the state.

Gordon’s office said Occidental asked for bids to be submitted by July 1.

Neither the Colorado Oil and Gas Conservation Commission nor Larimer County officials said they had specific information about the parcels in the county up for sale. 

Occidental did not return multiple requests for comment Thursday.

© 2020 BizWest Media…