For investors in Occidental Petroleum (NYSE: OXY), all of the moves that the company is pursuing may make your head spin. Between the sell-off of its equity stake in Plains GP Holdings (NYSE: PAGP) and the shedding of some of its international assets, the company will look different in the next few months. There is one consistent thing about Occidental, though, and it will continue to be the primary driver for this company: the Permian Basin.
With about 70 years of drilling in the Permian, Occidental has numerous assets there, and has been very successful in turning enhanced oil recovery into a cash cow. But with so much attention coming from companies like Pioneer Natural Resources (NYSE: PXD) regarding the size of the Permian's potential as a shale drilling prospect. Occidental is moving toward more unconventional drilling in the region. Find out why Occidental has a great chance of succeeding in the Permian's shale rush by tuning into the video below.
More great investments
Record oil and natural gas production is revolutionizing the United States' energy position. Finding the right plays while historic amounts of capital expenditures are flooding the industry will pad your investment nest egg. For this reason, the Motley Fool is offering a comprehensive look at three energy companies set to soar during this transformation in the energy industry. To find out which three companies are spreading their wings, check out the special free report, "3 Stocks for the American Energy Bonanza." Don't miss out on this timely opportunity; click here to access your report -- it's absolutely free.