$10 Billion Bridge Facility for Occidental Petroleum Corporation’s Proposed Acquisition of CrownRock, L.P.

On December 10, 2023, Occidental Petroleum Corporation entered into a definitive agreement pursuant to which Occidental Petroleum Corporation will acquire CrownRock, L.P. Cravath represented Occidental Petroleum Corporation, as borrower, in connection with a $10 billion bridge facility to support the proposed acquisition. Occidental Petroleum Corporation is an international oil and gas exploration and production company.

The Cravath team was led by partners Craig F. Arcella, Stephen M. Kessing and Doug Dolan and associate D. Ana Choi. Jennie Young Carr also worked on the transaction.