August 12, 2019 / 7:43 PM / 4 months ago

Occidental finance chief pledges to act quickly to pare acquisition debt

DENVER, Aug 12 (Reuters) - Occidental Petroleum Corp expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday.

Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week, told an Energen energy conference audience, the resulting debt burden was “not that bad,” and pledged Occidental would be selective in choosing assets to sell. (Reporting by Liz Hampton; Editing by Richard Chang)

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