Occidental Petroleum Is Making Sure It Doesn't Repeat Its Past Mistakes

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 ...