Citable filing context
OXY's research view summarizes recent SEC filing context, starting with earnings from Aug 5, 2026.
| Filed | Item | Context |
|---|---|---|
| Aug 5, 2026 | earnings | Occidental Petroleum reported second quarter 2026 net income of $2.8 billion and EPS of $2.75. |
| Jul 10, 2026 | guidance_update | Occidental Petroleum provided preliminary second quarter 2026 earnings considerations, including realized prices and cash flow impacts. |
| May 4, 2026 | management_change | Occidental appointed Richard A. Jackson as President and CEO, succeeding retiring CEO Vicki Hollub on June 1, 2026. |
| Jan 20, 2026 | Guidance: adjusted_effective_tax_rate | 24.00 to 26.00 |
| Oct 2, 2025 | Guidance: principal_debt | not reported to 15.00 |
| Jul 14, 2025 | Guidance: total_company_production | not reported to not reported |
| Aug 5, 2026 | mda_quarterly | Occidental Petroleum’s financial performance for the first half of 2026 was defined by the $9.5 billion divestiture of OxyChem, which closed in January and generated a $3.1 billion net gain. This transaction, combined with strong operating cash flow, enabled the company to aggressively deleverage, repaying $8.6 billion in debt and significantly reducing interest expense. The company’s core operations remain focused on the Permian Basin, where it continues to optimize natural gas transportation capacity and crude marketing margins. Earnings in the oil and gas segment were bolstered by higher realized crude oil prices, which averaged $83.37 per barrel for the first six months of 2026, compared to $67.37 in the prior-year period. However, domestic natural gas realizations remained a headwind. To manage near-term cash flow volatility, the company implemented crude oil collar derivatives for 2026 with a WTI floor of $55.00 and a weighted average ceiling of $75.89 per barrel. Key risks include ongoing geopolitical instability in the Middle East, which impacts international production volumes, and potential environmental liabilities, specifically regarding the Diamond Alkali Superfund Site. Despite these challenges, the company maintains a robust liquidity position with $4.2 billion in cash and full availability under its revolving credit facility. |
| May 5, 2026 | mda_quarterly | Occidental completed the sale of OxyChem to Berkshire Hathaway on January 2, 2026, for $9.5 billion, generating a $3.1 billion after-tax gain. The company utilized $6.7 billion of these proceeds to reduce long-term debt, adhering to a strategic priority to deleverage until principal debt reaches approximately $10 billion. For the first quarter of 2026, net income from continuing operations was $236 million. The oil and gas segment earned $1.0 billion, with worldwide realized oil prices averaging $69.91 per barrel, though volumes were hindered by Winter Storm Fern and the timing of new wells coming online. The midstream and marketing segment reported a loss of $87 million, despite gains from transportation capacity optimizations in the Permian Basin and higher sulfur prices at Al Hosn. Financial performance remains highly sensitive to WTI volatility and geopolitical disruptions, specifically the conflict with Iran affecting shipping through the Strait of Hormuz. Additionally, the company manages significant environmental remediation liabilities at the Diamond Alkali Superfund Site. Strategic initiatives focus on maintaining the production base, delivering sustainable dividends, and advancing carbon management and sequestration technologies. |
Source: SEC EDGAR filing text and events; period Aug 5, 2026; filed Aug 5, 2026.
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