Occidental Petroleum expects to close its acquisition of Permian producer CrownRock LP next month after clearing antitrust hurdles.

The waiting period for the company鈥檚 $12 billion acquisition of CrownRock LP under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, Occidental announced after markets closed July 18.

"We look forward to closing our transaction with CrownRock in August and welcoming their high-performing team into our organization," Occidental President and CEO Vicki Hollub said. 鈥淲e are progressing with the divestiture program that we believe will ultimately high-grade our portfolio and optimize returns for our shareholders.鈥�

Occidental Petroleum expects to close its acquisition of Permian producer CrownRock LP next month after clearing antitrust hurdles.

The waiting period for the company’s $12 billion acquisition of CrownRock LP under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, Occidental announced after markets closed July 18.

"We look forward to closing our transaction with CrownRock in August and welcoming their high-performing team into our organization," Occidental President and CEO Vicki Hollub said. “We are progressing with the divestiture program that we believe will ultimately high-grade our portfolio and optimize returns for our shareholders.”