Occidental, Western Midstream Partners take steps to separate MLP into standalone co.

Houston-based Occidental Petroleum Corp. (NYSE: OXY) and The Woodlands-based Western Midstream Partners LP (NYSE: WES) announced on Jan. 6 several steps they’ve taken to start separating.

Occidental gained control of the master limited partnership via its acquisition of The Woodlands-based Anadarko Petroleum Corp. Prior to the $55 billion acquisition closing in August 2019, reports surfaced that Occidental was considering selling half of Anadarko’s interest in the MLP and its general partner. That…