Occidental Pet Stock Price, News & Analysis

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.

Occidental Petroleum Corporation (NYSE: OXY) has announced the early tender results of its cash offers to purchase various senior notes totaling a maximum aggregate purchase price of $2 billion. As of July 9, 2020, valid tenders were received for several notes, including 4.10% Senior Notes due 2021 and Floating Interest Rate Notes due February 2021, among others. The company plans to execute supplemental indentures after receiving sufficient consent for some notes, while others remain unchanged. The early settlement date for accepted notes is set for July 13, 2020.

Occidental Petroleum Corporation (OXY) will release its second quarter 2020 financial results on August 10, 2020, after market close. A conference call is scheduled for August 11, 2020, at 11 a.m. Eastern/10 a.m. Central to discuss the results. Participants can join by calling 1-866-871-6512 (international callers: 1-412-317-5417) or via a webcast at oxy.com/investors. Q2 results will be published on the company's Investor Relations page, with a recording available post-call.

Occidental Petroleum Corporation (NYSE: OXY) announced an increase in its maximum aggregate purchase price for senior notes from $1,500 million to $2,000 million as part of its Tender Offers. The decision is contingent upon the completion of a concurrent offering generating at least $1,950 million in net proceeds. The Tender Offers will expire on July 23, 2020, and holders have until July 9, 2020, for early tenders to receive a premium. Occidental is also soliciting consents to amend existing covenants related to the Notes.