Occidental Pet Stock Price, News & Analysis

Natural Resource Partners L.P. (NYSE: NRP) announced an agreement with Occidental’s Low Carbon Ventures (OXY) to evaluate a carbon dioxide (CO₂) sequestration hub in southeast Texas. This partnership will utilize approximately 65,000 acres of pore space controlled by NRP, with a total estimated storage capacity of 500 million metric tons of CO₂. NRP currently manages about 140,000 acres for CO₂ sequestration, aiming to develop its carbon-neutral portfolio. This move is part of broader strategies to support decarbonization.

Occidental's Low Carbon Ventures (OLCV) subsidiary has partnered with Natural Resource Partners L.P. to assess the development of a CO₂ sequestration hub in southeast Texas. This hub, covering approximately 65,000 acres, aims to store over 500 million metric tons of CO₂. This initiative aligns with OLCV’s goals to provide solutions for industrial carbon emissions and supports broader decarbonization efforts.

OLCV plans to collaborate with its subsidiary, 1PointFive, to advance this project, reinforcing its commitment to achieving net-zero carbon emissions.

Occidental (NYSE: OXY) will report its third quarter 2022 financial results on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 1 p.m. Eastern/12 p.m. Central. Interested participants can join by calling 1-866-871-6512 or via webcast at oxy.com/investors. The results will be accessible on the company's website, and a recording of the call will be available shortly afterward.

Western Midstream Partners, LP (NYSE: WES) announced a letter of intent with Occidental Petroleum Corporation (NYSE: OXY) to explore low-carbon intensity oil and gas production. The collaboration focuses on developing carbon dioxide (CO₂) capture, transportation, and sequestration services in Texas and Colorado. Oxy plans to install carbon capture facilities on its upstream activities, while WES will do the same at its natural gas plants. This partnership aims to enhance sustainability and provide carbon management services to other emitters, reinforcing the companies' commitment to reducing greenhouse gas emissions.

Occidental (NYSE: OXY) plans to begin construction of its first large-scale Direct Air Capture (DAC) plant in Ector County, Texas, in Q3 2022, aiming for operational start-up in late 2024. The facility, once complete, is set to capture up to 500,000 metric tons of CO2 annually, with potential scalability to 1 million metric tons. The project will employ over 1,000 during construction and about 75 once operational, aligning with Occidental’s net-zero strategy. Collaborations with Carbon Engineering and Worley for technology development are highlighted, along with agreements for solar power and carbon credit sales.

Occidental (NYSE: OXY) announced its second quarter 2022 financial results on August 2, 2022. The earnings release is available on Occidental's website and the U.S. SEC site. A conference call for further insights will be held on August 3, 2022, at 1 p.m. Eastern Time. Shareholders can join via phone or webcast, with pre-registration options available. Occidental is a major energy company involved in oil production, midstream marketing, and chemicals, including efforts to advance carbon management and reduce emissions.

Occidental (NYSE: OXY) has declared a quarterly dividend of $0.13 per share on common stock, scheduled for payment on October 17, 2022. Shareholders of record as of September 12, 2022 will be eligible for this dividend. The company, a leading oil producer in the United States with significant operations in the Permian and DJ basins and the Gulf of Mexico, focuses on maximizing the value of its oil and gas assets while advancing carbon management solutions through its Oxy Low Carbon Ventures.

Occidental (NYSE: OXY) will report its second quarter 2022 financial results on August 2, 2022, after market closure. A conference call to discuss these results is scheduled for August 3, 2022, at 1 p.m. Eastern Time. The call can be joined by phone or via webcast. The financial results will be accessible through the Investor Relations section of Occidental's website, and a recording of the call will be available post-event. Occidental is a leading energy company with significant operations in oil production in the U.S., the Middle East, and North Africa.

1PointFive, a subsidiary of Occidental (NYSE: OXY), has signed a lease for approximately 27,000 acres of timberland in Western Louisiana with Manulife Investment Management. This agreement enables 1PointFive to establish a carbon sequestration hub that will store industrial carbon emissions, aligning with Occidental's net-zero goals. The project incorporates Class VI injection permits required for geologic sequestration and enhances 1PointFive’s carbon capture capabilities while supporting local environmental initiatives.