Western Midstream Partners, LP announced that it executed a letter of intent with a subsidiary of Occidental Petroleum Corporation, with the objective of pursuing opportunities to produce and deliver low-carbon intensity oil and gas products to market through the development of carbon dioxide capture, transportation, utilization and sequestration opportunities in and around their existing asset bases in the Texas Delaware and Colorado DJ Basins. Under terms of the LOI, Oxy will explore installing carbon capture facilities on its upstream oil and gas activities, and WES will explore installing carbon capture facilities on its natural gas plants and other major gathering and treating facilities. WES would explore providing CO(2) transportation services from the WES and Oxy carbon capture facilities to Oxy's CO(2) offtake delivery locations.

Oxy would design, own, and operate new and existing CO(2) offtake facilities for sequestration, enhanced oil recovery, or other utilization activities. Additionally, Oxy and WES intend to consider opportunities to provide these carbon management services to other point source emitters who are also interested in reducing their carbon emissions.