The oil company is making early progress on its debt reduction plan. Occidental Petroleum (OXY -0.59%) made a big splash last year, agreeing to buy CrownRock for $12 billion. It's primarily paying cash for the oil and gas producer, which is a concern. The oil company nearly went under in 2020 after buying Anadarko Petroleum in a cash-heavy deal the prior year. The oil company is taking steps to ensure it doesn't repeat its past mistakes by selling assets before closing its CrownRock transaction. That should ...

Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Our Oxy Low Carbon Ventures subsidiary is ...

Additional dispositions in 2024 with total purchase price proceeds of approximately $152 million bring total year-to-date proceeds of closed or announced divestments to $970 million HOUSTON, July 29, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced it has agreed to sell certain Delaware Basin assets in Texas and New Mexico to Permian Resources (NYSE: PR) for approximately $818 million and separately completed several dispositions totaling approximately $152 million in 2024. Sales proceeds fro ...

Occidental Petroleum (OXY) shares have gained 5.4% in the last fortnight compared with the industry's rise of 3%. The company operates in a highly competitive industry, which might create challenges in adding new oil and gas reserves and replenishing production volumes. Returns Lower Than the Industry 10.7 10.1 9.5 8.9 8.3 2/24 10/23 11/23 3/24 CIDENTAL PET (OXY Image Source: Zacks Investment Research Estimates Going Down The Zacks Consensus Estimate for Occidental Petroleum's 2024 and 2025 earnings per sha ...

HOUSTON, July 25, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) announced today that its Board of Directors declared a regular quarterly dividend of $0.22 per share on common stock, payable on October 15, 2024, to stockholders of record as of the close of business on September 10, 2024. About Occidental Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading ...

The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. The company is slated to reveal its earnings on August 7, 2024. The company is forecasted to report an EPS of $0.86, showcasing a 26.47% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $7.2 billion, indicating a 7.01% growth compared to the corresponding quarter of the prior year. Res ...

(1) For each $1,000 principal amount of CrownRock Notes validly tendered and accepted for exchange. On the Early Settlement Date (as defined herein), the Consent Payment will be paid to each eligible holder of CrownRock Notes that validly tendered and did not validly withdraw CrownRock Notes at or prior to the Early Participation Date (as defined herein). (2) For each $1,000 principal amount of CrownRock Notes validly tendered and accepted for exchange. (3) For each $1,000 principal amount of CrownRock Note ...

HOUSTON, July 19, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that it has commenced a private exchange offer to certain eligible holders (the "Exchange Offer") for any and all outstanding 5.000% Senior Notes due 2029 (the "CrownRock Notes") issued by CrownRock, L.P. ("CrownRock") and CrownRock Finance, Inc. for up to $376,084,000 aggregate principal amount of new notes to be issued by Occidental (the "Occidental Notes") and cash. ______________________ (1) For each $1,000 principal amoun ...

HOUSTON, July 18, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that the waiting period for its acquisition of CrownRock, L.P. (CrownRock, and such transaction, the CrownRock acquisition) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired. About Occidental This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about Occi ...

HOUSTON, July 18, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that the waiting period for its acquisition of CrownRock, L.P. (CrownRock, and such transaction, the CrownRock acquisition) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired. With the expiration of the waiting period, the conditions to closing have been satisfied, other than those that are to be satisfied at closing. The CrownRock acquisition is expected to close in August, after completion of the fina ...