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Occidental Pet - OXY STOCK NEWS

Welcome to our dedicated page for Occidental Pet news (Ticker: OXY), a resource for investors and traders seeking the latest updates and insights on Occidental Pet stock.

Overview

Occidental Petroleum (OXY) is a globally recognized independent oil and gas exploration and production company, integrating advanced technology with proven operational excellence. Known for its expansive portfolio across the United States, Latin America, and the Middle East/North Africa, Occidental leverages its deep expertise in upstream operations and cutting-edge extraction techniques to access hard-to-recover reserves. With a strong focus on long-lived, legacy assets and core production in oil, natural gas, and natural gas liquids, the company has established a resilient business model that thrives in dynamic market conditions.

Business Segments

Occidental Petroleum operates through several key segments that collectively define its market presence:

  • Upstream Exploration and Production: The primary driver of the company is its oil and natural gas operational segment. Concentrating on mature basins and long-term production assets, Occidental employs advanced drilling and recovery techniques to maximize output while managing operational risks.
  • Midstream and Marketing: This segment is dedicated to ensuring flow assurance and optimizing the value chain of produced hydrocarbons. It effectively manages storage, transportation, and the commercialization of oil and gas products across interrelated markets.
  • OxyChem: As a major North American chemical manufacturer, the OxyChem subsidiary produces essential building blocks that are integral to numerous consumer and industrial products, further diversifying the company's revenue streams.

Technology and Innovation

Occidental has consistently stood out by integrating advanced technology into its operations. From digital oilfield management to state-of-the-art drilling techniques, the company has refined its processes to improve recovery rates and efficiently tap into challenging reserves. This commitment to technological innovation not only boosts production efficiency but also reinforces its competitive position in an industry where operational excellence is paramount.

Market Position and Competitive Landscape

Positioned among the largest oil and gas producers in the United States, Occidental has cultivated a reputation as a resilient and resourceful operator. Its strategic focus on legacy assets with long-term production potential sets it apart from competitors. The company actively manages its portfolio through timely asset divestitures and portfolio optimization strategies, thereby enhancing its liquidity and streamlining operations. Such measures have enabled Occidental to maintain a robust balance sheet and a resilient operational foundation, critical for navigating the inherent volatility in global energy markets.

Global Presence and Operational Excellence

With operations spanning multiple continents, Occidental Petroleum combines local expertise with global strategic execution. Its assets are concentrated in regions that have historically provided stable production profiles, which contributes to its ability to consistently generate organic cash flow. The company's expansive workforce and diverse contractor network underscore its significant operational footprint and its role as a pivotal employer and business partner in many communities.

Sustainable Operational Practices

Occidental adheres to rigorous operational standards that emphasize reliability and efficiency. While maintaining a focus on traditional hydrocarbon production, the company also ensures that its processes are informed by decades of industry experience and technical knowledge. This balanced approach is central to its sustained operational success and is reflective of the deep-rooted commitment to quality and procedural excellence that defines its strategic endeavors.

Industry-Specific Expertise and Financial Discipline

Occidental Petroleum is not only a stalwart in oil and gas production but also a company renowned for its strategic use of technology and financial acumen. The company employs strategic divestiture programs to optimize its asset base and reduce debt, illustrating its strategic approach to capital allocation. This disciplined financial management, underpinned by industry-specific know-how and a deep understanding of production economics, underscores the company's capacity to remain competitive in a complex business environment.

Conclusion

In summary, Occidental Petroleum (OXY) represents a comprehensive and well-integrated model of modern energy production. Its diversified operations in exploration, production, midstream marketing, and chemical manufacturing enable it to efficiently manage risk and capitalize on long-term production assets. With a steadfast commitment to operational excellence and technological innovation, Occidental remains a key player in the global energy landscape, consistently delivering on its promise of enhanced production efficiency and economic resilience.

News
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Occidental (NYSE: OXY) has announced a regular quarterly dividend of $0.22 per share on common stock. The dividend will be payable on October 15, 2024, to stockholders of record as of the close of business on September 10, 2024. This announcement demonstrates Occidental's commitment to returning value to shareholders through consistent dividend payments. The declaration of a regular quarterly dividend suggests stability in the company's financial position and confidence in its ability to generate cash flow.

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Occidental (NYSE: OXY) has launched a private exchange offer for CrownRock's 5.000% Senior Notes due 2029, offering up to $376,084,000 in new Occidental Notes and cash. This offer is linked to Occidental's planned acquisition of CrownRock, announced on December 10, 2023. The exchange offer includes a consent solicitation to amend the CrownRock Notes' indenture, removing certain restrictive covenants and events of default.

Eligible holders tendering by the Early Participation Date (August 1, 2024) will receive the Total Consideration, including a $2.50 cash Consent Payment and $30 Early Participation Premium in Occidental Notes per $1,000 of CrownRock Notes. The exchange offer expires on August 16, 2024, with an expected early settlement date in August 2024, coinciding with the CrownRock acquisition closing.

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Occidental (NYSE: OXY) has announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its acquisition of CrownRock, L.P. has expired. This expiration satisfies the conditions for closing, except those to be fulfilled at the closing itself. The CrownRock acquisition is expected to close in August, following the completion of the financing marketing period outlined in the purchase agreement.

President and CEO Vicki Hollub expressed anticipation for closing the transaction and integrating CrownRock's team. Occidental is also progressing with a divestiture program aimed at enhancing its portfolio and optimizing shareholder returns.

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Occidental (NYSE: OXY) will release its second quarter 2024 financial results after market close on August 7, 2024. The company will host a conference call to discuss these results on August 8, 2024, at 1 p.m. Eastern/12 p.m. Central. Interested parties can join the call by dialing provided numbers or via a webcast on the company's investor relations page. The webcast recording will be available on the website shortly after the call.

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On June 11, 2024, Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE: OXY), announced a partnership with TAE Technologies to explore using TAE's fusion technology for emissions-free power and heat at Direct Air Capture (DAC) facilities. This agreement aims to complement Occidental's low-emission energy sources, including solar and NetPower, depending on location and future technological advancements. The collaboration offers TAE Technologies a platform to demonstrate the reliability, cost savings, and safety of their power management systems in commercial settings. OLCV's Vice President, Frank Koller, and TAE Technologies' CEO, Michl Binderbauer, emphasized the potential of fusion energy for sustainable, large-scale power generation.

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Occidental (NYSE: OXY) and BHE Renewables have announced a joint venture to commercialize TerraLithium’s Direct Lithium Extraction (DLE) technology. The venture aims to extract high-purity lithium from geothermal brine at BHE's Imperial Valley facility in California. This initiative could transform the region into a global leader in lithium production and provide a significant boost to the renewable energy and electric vehicle sectors. The project will demonstrate the feasibility of producing lithium in an environmentally safe manner and upon success, expand to build commercial lithium production facilities both in and outside the Imperial Valley.

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Select Water Solutions (NYSE: WTTR) and Occidental (NYSE: OXY) have achieved a significant milestone at their South Curtis Ranch facility in the Midland Basin, successfully treating and recycling over 50 million barrels of produced water since its inception in March 2021. This facility exemplifies sustainable water management by reducing freshwater consumption and waste, reflecting both companies' commitment to environmental stewardship. The achievement highlights the collaborative efforts and dedication of both teams to adopt long-term water recycling programs, providing economic value and environmental benefits to the community.

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Occidental (NYSE: OXY) reported its first quarter 2024 financial results, with details available on its website and the SEC's site. The company will hold a conference call on May 8, 2024, to discuss the results.

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Occidental (OXY) has announced a regular quarterly dividend of $0.22 per share on common stock, payable to stockholders on July 15, 2024. The dividend will be distributed to stockholders of record as of June 10, 2024.

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Occidental (NYSE: OXY) to announce first quarter 2024 financial results on May 7, 2024, with a conference call scheduled for May 8, 2024.
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FAQ

What is the current stock price of Occidental Pet (OXY)?

The current stock price of Occidental Pet (OXY) is $43.9 as of April 3, 2025.

What is the market cap of Occidental Pet (OXY)?

The market cap of Occidental Pet (OXY) is approximately 43.4B.

What is Occidental Petroleum's core business?

Occidental Petroleum primarily focuses on the exploration and production of oil and natural gas, operating across multiple regions. The company emphasizes long-lived, legacy assets to deliver steady production.

In which regions does Occidental operate?

The company’s operations are concentrated in the United States, Latin America, and the Middle East/North Africa. This geographic diversification helps balance production and manage operational risks.

How does Occidental leverage technology in its operations?

Occidental integrates advanced technology such as digital oilfield management and state-of-the-art drilling techniques to boost recovery rates and access challenging reserves. This technological edge enhances overall operational efficiency.

What are the main business segments of Occidental Petroleum?

Occidental operates through three key segments: upstream exploration and production, midstream and marketing, and its chemical subsidiary, OxyChem. Each segment contributes uniquely to the company’s revenue.

What role does OxyChem play in Occidental's business model?

OxyChem, as the chemical subsidiary, manufactures essential chemical products that serve as building blocks for various industrial and consumer goods. This segment helps diversify Occidental's operational portfolio.

How does Occidental maintain its competitive position?

The company focuses on technological innovation, rigorous operational discipline, and asset portfolio optimization through strategic divestitures. This approach ensures efficiency and a robust competitive edge in the energy sector.

How does Occidental manage risk in its operations?

Occidental employs a range of risk management strategies including geographic diversification, advanced extraction techniques, and financial discipline through targeted asset sales. This balanced approach mitigates risks associated with market volatility.

Why is Occidental considered an industry expert?

With decades of experience in oil and gas production, a deep understanding of operational dynamics, and continuous investment in technology, Occidental demonstrates expertise and operational excellence in a complex global energy market.
Occidental Pet

NYSE:OXY

OXY Rankings

OXY Stock Data

43.43B
671.67M
28.54%
49.56%
4.04%
Oil & Gas E&P
Crude Petroleum & Natural Gas
Link
United States
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