The idea of buying a company this size isn't completely unprecedented. Back in 2009, ExxonMobil bought XTO Energy for over $41 billion. Granted, Exxon may have overpaid for that acquisition, but Occidental is certainly in that range. Furthermore, Occidental's positions in the Permian Basin and the Bakken could be very attractive to some of these integrated oil majors who have stated they want to focus more on domestic production rather than some of the riskier plays overseas.