Houston-based Occidental Petroleum Corp. (NYSE: OXY) may spin off Western Midstream Partners LP (NYSE: WES) to be a standalone business, the company revealed Monday as it detailed steps it has taken to separate from its midstream affiliate.
Occidental gained control of the Western Midstream master limited partnership when it acquired The Woodlands, Texas-based Anadarko Petroleum Corp. last year. Prior to the $55 billion deal closing in August, reports surfaced that Occidental was considering selling…