9 Mar 2026security holder rights change▲ Good
Occidental announced early results of tender offers to retire several older, higher-coupon notes and debentures (some dating to the Kerr-McGee/Anadarko era), continuing its post-CrownRock deleveraging.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Jan 2026asset acquisition disposition▲ GoodMajor
Occidental completed the $9.7 billion sale of OxyChem to Berkshire Hathaway.
3 Oct 2025material agreement▲ GoodMajor
Occidental agreed to sell its OxyChem chemicals business to Berkshire Hathaway for $9.7 billion in cash, a major divestiture likely aimed at cutting the debt built up from the CrownRock acquisition.
3 Mar 2025security holder rights change● Neutral
Occidental temporarily cut the exercise price on its 2020 shareholder warrants from $22 to $21.30 to encourage holders to exercise them for cash.
1 Aug 2024asset acquisition disposition● NeutralMajor
Occidental completed its roughly $12 billion acquisition of CrownRock, adding the private Permian Basin producer's full operations and giving CrownRock's former owners registration rights to resell the Occidental stock they received as consideration.
5 Feb 2024debt financing● Neutral
Occidental extended its revolving credit facility's maturity again, routine treasury housekeeping ahead of closing the CrownRock acquisition.
28 Dec 2023debt financing● NeutralMajor
Occidental lined up a $4.7 billion term loan to help fund its pending acquisition of Permian Basin producer CrownRock and refinance CrownRock's existing debt.
13 Dec 2021debt financing▲ Good
Occidental shrank its revolving credit facility from $5 billion to $4 billion and pushed its maturity out to mid-2025, a smaller backstop reflecting reduced liquidity needs as it paid down Anadarko-related debt.
8 Sept 2021production update▼ BadMajor
Hurricane Ida forced Occidental to shut in several Gulf of Mexico platforms and relocate onshore support operations after shore-base damage; three of ten platforms had restarted within days, but full recovery depended on third-party infrastructure Occidental could not control.
15 July 2021security holder rights change▲ Good
Occidental announced early results of tender offers retiring a broad slate of its 2022-2026 notes, continuing to pay down the debt taken on for the Anadarko deal.
22 Dec 2020security holder rights change▲ Good
Occidental raised another $2 billion in senior notes, this time at 5.5%-6.125% -- notably cheaper than July's distressed pricing -- again to fund a tender offer retiring older debt.
21 Sept 2020dividend declaration● Neutral
Occidental's board declared the required quarterly dividend on the preferred stock issued to Berkshire Hathaway (accruing at $2,000 per share), while directing remaining bond proceeds toward debt maturing in 2021.
28 July 2020listing compliance notice▲ GoodMajor
the exchange certified OCCIDENTAL PETROLEUM CORP /DE/'s securities for listing, clearing them to begin trading.
27 July 2020material agreement● NeutralMajor
As its stock traded near historic lows, Occidental distributed warrants to all common shareholders -- one warrant per 8 shares held, exercisable at $22 -- giving them extra upside if the stock recovers.
13 July 2020security holder rights change▼ BadMajor
With its stock hit hard by the COVID-era oil crash and its Anadarko-related debt load, Occidental sold $2 billion of new notes at distressed rates of 8%-8.875% to fund a tender offer buying back other outstanding bonds.
21 May 2020material agreement▼ BadMajor
The Total asset-sale plan partly unraveled: Occidental completed the Mozambique and South Africa sales, but after pushback from Algerian officials it decided to keep operating in Algeria, and Total then walked away from the related Ghana purchase too. Occidental will now market the Ghana assets separately.
25 Mar 2020listing compliance notice▲ GoodMajor
the exchange certified OCCIDENTAL PETROLEUM CORP /DE/'s securities for listing, clearing them to begin trading.
19 Sept 2019debt financing● Neutral
Occidental completed the exchange offers, swapping the assumed Anadarko and Kerr-McGee legacy notes for its own paper and fully folding that debt onto its balance sheet.
30 Aug 2019security holder rights change● Neutral
Occidental signed supplemental indentures adding itself as obligor on 23 series of legacy Anadarko, Anadarko Finance and Kerr-McGee bonds, as it began exchanging that debt for its own notes.
13 Aug 2019debt financing● NeutralMajor
By this amendment the exchange offers no longer depended on the Anadarko merger: the completion-of-merger condition was struck out, leaving only effectiveness of the registration statement as an unwaivable condition. It also recorded that on 8 August Occidental had issued $13.0 billion of senior unsecured notes, raising about $12.9 billion after fees, to pay for the acquisition -- so the debt was already on the balance sheet before the legacy bonds were swapped. The tender deadline moved from 5:00 p.m. to 12:01 a.m.
8 Aug 2019business combination● NeutralMajor
Occidental completed its acquisition of Anadarko Petroleum for about $36 billion in cash and stock plus assumed debt, funded partly by an $8.8 billion term loan; Anadarko is now a wholly owned Occidental subsidiary.
8 Aug 2019debt financing● NeutralMajor
Occidental raised $13 billion in a ten-tranche bond offering -- one of the largest corporate bond deals on record -- to help fund the Anadarko acquisition.
5 Aug 2019material agreement▲ GoodMajor
Occidental and Total S.A. signed a definitive $8.8 billion agreement for Total to buy Anadarko's Algeria, Ghana, Mozambique and South Africa assets once the Anadarko merger closes, superseding their earlier May 2019 memorandum.
1 Aug 2019business combination● Neutral
Ahead of the merger vote, Occidental filed updated Anadarko and pro forma combined financials, and reiterated the planned sale of Anadarko's Algeria, Ghana, Mozambique and South Africa assets to Total.
1 Aug 2019debt financing● NeutralMajor
Occidental offered to swap its own notes for the legacy Anadarko, Anadarko HoldCo, Anadarko Finance and Kerr-McGee bonds it was inheriting, across more than twenty series maturing from 2025 to 2096. Holders tendering by the early date get $1,000 of new Occidental notes and $1.00 cash per $1,000 of old notes -- including a $30 early participation premium -- and only $970 of notes afterwards. Tendering also counts as consent to strip covenants out of the old indentures, and at the time of filing the whole offer was conditional on the Anadarko merger closing.
1 Aug 2019listing compliance notice● NeutralMajor
OCCIDENTAL PETROLEUM CORP /DE/'s exchange filed to remove a class of its securities from listing.
3 July 2019business combination▼ BadMajor
The amendment added a litigation section the original did not have: two Anadarko stockholders had demanded inspection of Anadarko's books and records under Delaware law in May, and on 30 May Carl Icahn's High River, Icahn Partners Master Fund and Icahn Partners -- Occidental stockholders, not Anadarko's -- filed in the Delaware Court of Chancery for inspection of Occidental's records. Occidental answered on 14 June. These are books-and-records actions rather than challenges to the merger itself, but they mark the point at which Occidental's own shareholders started contesting the deal.
7 June 2019business combination● NeutralMajor
Occidental registered the stock leg of its purchase of Anadarko: $59.00 in cash plus 0.2934 of an Occidental share per Anadarko share, a fixed ratio with no collar, so Anadarko holders carry the full risk of Occidental's share price between signing and closing. The pro formas set out what comes with it -- up to $21.8 billion of committed bridge borrowing to fund the cash, Berkshire Hathaway's $10 billion of preferred stock and warrants, and a binding agreement to sell Anadarko's Algerian, Ghanaian, Mozambican and South African businesses to Total for $8.8 billion once the merger closes. The break fee is a mutual 3.95% of Anadarko's implied equity value.
10 May 2019business combination● NeutralMajor
Occidental agreed to acquire Anadarko Petroleum for roughly $57 billion including debt, after outbidding Chevron (Anadarko owes Chevron a $1 billion breakup fee). Occidental is funding the cash portion with a $10 billion preferred-stock investment from Berkshire Hathaway and a $21.8 billion bridge loan.
2 Mar 2018debt financing● Neutral
Occidental sold $1 billion of notes due 2048 to refinance $500 million of notes that had just matured.