ENERGY
From Times Staff and Wire Reports
Oxy Buys Into Gulf Coast Properties: Los Angeles-based Occidental Petroleum Corp. said it has agreed to buy interests in 17 Gulf Coast oil and gas properties from Agip Petroleum Co. for $195 million. It said half the price will be paid in cash and half in Occidental stock. The properties contain estimated reserves of 204 billion cubic feet of natural gas. The deal will add about 50 million cubic feet per day of natural gas and 3,500 barrels of oil per day to Oxy’s production.
