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OCCIDENTAL TO SELL ITS TRIDENT NGL STAKE IN PUBLIC OFFERING

 OCCIDENTAL TO SELL ITS TRIDENT NGL STAKE IN PUBLIC OFFERING
 LOS ANGELES, March 16 /PRNewswire/ -- Occidental Petroleum Corporation (NYSE: OXY) announced today that it is selling its interest in Trident NGL Inc., in connection with an initial public offering of common stock by Trident.
 Trident today filed a registration statement covering 6.5 million shares to be sold by Trident and 9 million shares to be sold by Occidental. The shares are to be sold by underwriting syndicates in the United States and abroad. The consummation of the offerings is subject to the receipt of various consents and approvals.
 In August 1991, Occidental sold its domestic NGL business to Trident, a company formed by Hicks, Muse & Co.. This sale of Occidental's equity interest in Trident completes the disposition of Occidental's domestic NGL business. Proceeds will be used in Occidental's debt reduction program.
 The managing underwriters for the offering in the United States are Donaldson, Lufkin & Jenrette; Kidder, Peabody & Co., Merrill Lynch & Co., Morgan Stanley & Co., and S.G. Warburg Securities. These underwriters, or their affiliates, will serve as managers of the international offering.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release is not an offering, which can be made only by means of the prospectus included in the registration statement. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
 -0- 3/16/92
 /CONTACT: Howard Collins (media), 310-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental Petroleum/
 (OXY) CO: Occidental Petroleum Corp.; Trident NGL ST: California IN: OIL SU: OFR


KJ -- LA020 -- 8351 03/16/92 13:07 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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