Occidental Pet Stock Price, News & Analysis

On September 10, 2020, Occidental (NYSE: OXY) announced the expiration of its cash tender offers for various senior notes totaling a maximum purchase price of $3 billion. The offers included multiple series of notes due in 2021, 2022, and 2023. As of the expiration date, only some 2021 notes were validly tendered and accepted, with no additional tenders received for the 2022 and 2023 notes after their early tender times. Notably, no requisite consents were obtained for proposed amendments to the indentures for any series of consent notes, meaning existing covenants remain intact.

Occidental (NYSE: OXY) has announced a quarterly dividend of $0.01 per share, payable on October 15, 2020, to stockholders of record as of September 15, 2020. This decision reflects the company's ongoing commitment to returning value to shareholders despite the challenging economic landscape.

As one of the largest oil producers in the U.S., Occidental operates in various regions, including the Permian and DJ basins and offshore Gulf of Mexico. The company is also engaged in developing technologies for a lower-carbon world.

Occidental (NYSE: OXY) announced early tender results for its Tender Offers involving several senior notes, including the 4.10% Senior Notes due 2021 and various 2022 and 2023 Notes. As of August 28, 2020, valid tenders amounted to $138.6 million for the 4.10% notes, with total acceptances across different notes reaching approximately $2.5 billion. The offers will have a maximum aggregate purchase price cap of $3 billion, with specific caps for 2022 and 2023 Notes. Tendering holders will receive a total consideration that includes early tender premiums, with settlement expected on September 1, 2020.

Occidental (NYSE: OXY) announced the early tender results for its 2021 Notes, indicating strong interest in its Tender Offers, with valid tenders amounting to approximately $1.36 billion from the $1.75 billion outstanding notes. The offers involve purchasing various senior notes up to a maximum price of $3 billion. The early settlement date is set for August 27, 2020, with offers expiring on September 9, 2020. The company is also soliciting consents for proposed amendments to certain covenants of the notes. Occidental aims to enhance financial stability through these actions.

Occidental (NYSE: OXY) has amended its cash offers to purchase its outstanding senior notes, including 4.10% and 2.600% Senior Notes due 2021, extending the tender deadlines for certain notes until August 28, 2020. The company plans to purchase up to $3 billion in notes, subject to specific purchase price caps for 2022 and 2023 notes. The tender offers expire on September 9, 2020. Holders must act by the new deadlines to receive early tender premiums. This move is part of Occidental's broader financial strategy amid market challenges.

Occidental (NYSE: OXY) has entered a purchase and sale agreement to divest its Wyoming, Colorado, and Utah land grant assets for approximately $1.33 billion to Orion Mine Finance. This transaction, expected to close in Q4 2020, includes around 4.5 million mineral acres. Occidental will retain cash flow from producing oil and gas properties, primarily cost-free royalties. The deal aims to meet their $2 billion divestiture target for 2020, while retaining core assets in the Rockies, including Colorado's DJ Basin.

Occidental (NYSE: OXY) announced an increase in the maximum purchase price for its Tender Offers from $1.5 billion to $3 billion and the cap for 2022 Notes from $200 million to $700 million. This adjustment is contingent on completing a registered offering of senior unsecured debt securities, raising at least $2.95 billion. The Tender Offers expire on September 9, 2020, while early tenders by August 25, 2020, qualify for an early premium. Occidental remains committed to its operational growth while managing its debt effectively.

Occidental Petroleum Corporation (OXY) has initiated cash offers to buy back its outstanding senior notes through Tender Offers, as detailed in its Offer to Purchase and Consent Solicitation Statement dated August 12, 2020. The company is offering to purchase notes with an aggregate maximum price of $1.5 billion, including 4.10% Senior Notes due 2021 and others, before a September 9, 2020 expiration. Early tendering by August 25, 2020, offers higher compensation. The Tender Offers are conditional on the successful completion of a concurrent offering raising at least $1.475 billion.

Occidental (NYSE: OXY) reported its second quarter 2020 financial results on August 10, 2020. The detailed earnings can be accessed through the company's Investor Relations section on its website. An upcoming conference call is scheduled for August 11, 2020, at 11 a.m. Eastern, allowing analysts and investors to discuss the results. Occidental is a major energy industry player, noted for being the largest onshore oil producer in the U.S. and having significant operations in diverse regions including the Middle East and Latin America.