Source: Hess Corp. It was roughly one year ago when reports surfaced that Occidental Petroleum Corporation ( NYSE:OXY ) was seeking a buyer for its Bakken Shale assets. At that time, Wall Street pegged the value of those assets at as much as $3 billion. However, one year later, those same assets are reportedly being unloaded for a mere $500 million. What’s important to understand about that price is the fact that it is not the result of a fire sale by a company in desperate need for cash — Occidental is doing just fine — nor is it due to a huge disconnect in the M&A market. Instead, the low reported sales price boils down to two things: poor timing and a less-than-ideal location. Once upon a time When Occidental Petroleum first put its North Dakota oil assets on the market, it was right around what, in hindsight, […]