- The majority stake in Western Midstream Partners (WES) being sold by Occidental Petroleum (OXY +3.2%) has attracted interest from Blackstone (BX +0.5%) and Apollo Global Management (APO +0.7%), among other P-E firms, Bloomberg reports.
- OXY acquired a majority stake WES via its purchase of Anadarko Petroleum, which had formed the company to house its pipeline operations.
- OXY is seeking to sell $10B-$15B in assets over the next two years to pay down debt; the company this week announced public offerings of its stakes in Plains All American Pipeline and Plains GP Holdings for $652M in gross proceeds.