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.
Occidental Petroleum Corporation (NYSE: OXY) is an international energy company that produces, markets and transports oil and natural gas, with assets primarily in the United States, the Middle East and North Africa. The company describes itself as one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins and offshore Gulf of America, and it emphasizes a focus on carbon management and low-carbon ventures through its Oxy Low Carbon Ventures subsidiary.
The OXY news feed on Stock Titan aggregates company announcements, press releases and other coverage related to Occidental’s operations and corporate actions. Readers can follow updates on quarterly and annual financial results, including earnings releases that the company furnishes on Form 8-K, as well as notices about upcoming earnings conference calls and related earnings considerations that management believes will impact results.
News for Occidental also includes information on dividends declared by the Board of Directors, asset divestitures and acquisitions. Recent examples in the supplied materials include announcements about divestitures of select Permian Basin assets for debt reduction, the acquisition of CrownRock, L.P., and the agreement and subsequent completion of the sale of Occidental’s chemical business, OxyChem, to Berkshire Hathaway Inc. for cash consideration, as reported in joint press releases and Form 8-K filings.
Occidental’s communications often highlight its midstream and marketing segment, its low-carbon ventures, and its efforts to manage its balance sheet through debt reduction and portfolio high-grading. By following the OXY news page, users can track these developments, review official company statements and monitor how Occidental describes its evolving portfolio and strategic priorities over time.
Occidental (NYSE:OXY) is set to announce its third quarter 2020 financial results on November 9, 2020, after the market closes. A conference call to discuss these results will occur on November 10, 2020, at 11 a.m. Eastern/10 a.m. Central. Interested parties can access the call by phone at 1-866-871-6512 or via webcast at oxy.com/investors. The results will be accessible on the company's Investor Relations page following the announcement.
Occidental (NYSE: OXY) has agreed to sell its Colombian onshore assets to The Carlyle Group for approximately $825 million, with $700 million to be received upfront. The transaction, expected to close in Q4 2020, encompasses operations in the Llanos Norte, Middle Magdalena, and Putumayo Basins. Following the sale, Occidental will retain offshore exploration blocks in Colombia. This divestiture is part of a broader strategy, with over $2 billion in asset sales announced in 2020.
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.