Oxy Sells Office Towers for $565M

摘要

Occidental Petroleum has sold two office complexes to real estate developer Howard Hughes Corp. for $565 million as part of its plan to try to pay down its daunting debt load following the $38 billion purchase of rival Anadarko through noncore asset sales. Houston-based Oxy sold a campus in the Energy Corridor area of Houston that it had acquired from ConocoPhillips months before the Anadarko deal as well as a pair of office towers in the Woodlands, north of Houston, that were built by Anadarko.