Oxy to Sell Natural Gas Properties: Ashland...

Oxy to Sell Natural Gas Properties: Ashland Oil Inc. said it has agreed to buy Occidental Petroleum Co.’s Appalachian natural gas properties for about $107 million. Ashland, based in Ashland, Ky., said it will acquire about 550,000 acres of gas-producing and undeveloped properties located primarily in West Virginia and eastern Kentucky. Production from the properties averages about 16 million cubic feet per day. In a separate statement, Los Angeles-based Occidental said gas production from the Appalachian properties is about 2% of its domestic gas output.