Occidental Petroleum Corp.

Three New Directors Appointed to Board in Addition to New Chairman Icahn to Support All Occidental Nominees for Election at 2020 Annual Meeting Occidental Petroleum Corp. announced today that it has entered into an agreement with Carl C. Icahn and affiliated entities to add three new Icahn designated directors to Occidental's Board. Pursuant to the agreement, effective immediately Andrew Langham, Nicholas Graziano and [...]

?Occidental Petroleum Corp. announced today a further reduction in 2020 capital spending to between $2.7 billion and $2.9 billion from its original 2020 guidance of $5.2 billion to $5.4 billion, a midpoint reduction of 47 percent. At current commodity prices, 2020 annual production from continuing operations is expected to be 1,275,000 to 1,305,000 BOEPD, a reduction of 6 percent compared to prior guidance of 1,360,000 to [...]

Occidental Petroleum Corp. announced today that Stephen I. Chazen, the Chairman and Chief Executive Officer of Magnolia Oil & Gas Corp., effective March 18, 2020, has been elected to its Board of Directors as Chairman of the Board. Mr. Chazen has more than 30 years of experience in the oil and gas industry. Prior to founding the NYSE listed Magnolia Oil & Gas Corp. in 2018, Mr. Chazen served as Chief Executive Officer of [...]

The Board of Directors of Occidental Petroleum Corp. today adopted a limited duration stockholder rights plan and declared a dividend of one “Right” for each outstanding share of Occidental common stock. The Board will submit the Rights Agreement to a vote at the Company’s 2020 annual meeting, and the Rights will expire following the meeting if Occidental stockholders do not adopt a proposal to approve [...]

Occidental Petroleum Corp. announced today that its Board of Directors approved a reduction in the company’s quarterly dividend to $0.11 per share from $0.79 per share, effective July 2020. The company also announced it will reduce 2020 capital spending to between $3.5 billion and $3.7 billion from $5.2 billion to $5.4 billion and will implement additional operating and corporate cost reductions. “Due to the [...]

Occidental Petroleum Corp. today announced its fourth quarter and full year 2019 results. The announcement, financial schedules and accompanying slides can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the Securities and Exchange Commission's website at sec.gov. The company will hold a conference call on Friday, February 28, 2020, at 11 [...]

Occidental Petroleum Corp. said today that its Board of Directors has declared a regular quarterly dividend of $0.79 per share on common stock payable on April 15, 2020, to stockholders of record as of March 10, 2020. Occidental has paid quarterly dividends continuously since 1975 and has increased its dividend each year since 2002. The current annual rate is $3.16 per share. About Occidental Occidental is an [...]

Occidental Petroleum Corp. will announce its fourth quarter 2019 financial results after close of market on Thursday, February 27, 2020, and will hold a conference call to discuss results on Friday, February 28, 2020, at 11 a.m. Eastern/10 a.m. Central. The conference call may be accessed by calling 1-866-871-6512 or via webcast at www.oxy.com/investors. Participants may pre-register for the conference call at [...]

Occidental Petroleum Corp. today provided an update on its execution against key strategic and financial initiatives designed to maximize shareholder value following the close of its acquisition of Anadarko Petroleum on August 8, 2019. New Service, Operating and Governance Agreements with Western Midstream Occidental and Western Midstream Partners, LP announced the execution of several agreements that enable WES to [...]

Today Western Midstream Partners, LP and Occidental Petroleum Corp. announced the execution of several agreements that will enable WES to fully operate as a stand-alone business, consistent with WES's and Occidental's joint effort to establish WES as an independent midstream company. WES fully expects to continue its long-term and meaningful relationship with Occidental. These new agreements support WES's ongoing and [...]