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Industry Brief

A unit of Occidental Petroleum Corp. (Oxy) has a tentative agreement with Port of Corpus Christi, TX, administrators to acquire a major portion of the former U.S. Naval Station Ingleside. Oxy's Ingleside Property Holdings LLC would acquire more than 1,200 acres for $82.1 million. Completion of the deal is subject to approval of the Port Corpus Christi commission and the company's board. "Definitely, Eagle Ford Shale is part of the opportunity that plays into this strategic investment," Paul Thomas, manager of Oxy Chem's existing Ingleside, TX, plant told the Corpus Christi Caller Times. An Oxy spokesman would not provide additional information when contacted by NGI's Shale Daily.

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