• Occidental Petroleum(NYSE:OXY)agrees to sell its interests in two Ghana offshore fields to Kosmos Energy(NYSE:KOS)and Ghana National Petroleum Corp. for a combined $750M.
• The deal includes Occidental's stakes in both the Jubilee and TEN fields, whose combined net production totaled 22K boe/day in Q2.
• "Our divestiture program and free cash flow generation have enhanced our ability to reduce debt, as evidenced by the $4.5B we have repaid year to date," Occidental (OXY) says.
• Seeking Alpha contributor Jonathan Weber thinks Occidental should benefit from rising oil prices, but "it is not looking like a strong pick" due to high valuations and a weak balance sheet.