PXP Wraps Up Sale of O&G Assets in Permian, Piceance Basins for $1.25B

PXP has completed the sale of its remaining interests in oil and gas properties located in the Permian and Piceance Basins to Occidental Petroleum Corporation and certain other companies with contractual preferential purchase rights on December 1, 2008 for cash consideration of approximately $1.25 billion.