Occidental Petroleum Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Occidental Petroleum Corp. has filed its 2023 annual report (10-K) detailing financial performance and business segments.</b>

AI Summary

OCCIDENTAL PETROLEUM CORP /DE/ (OXY-WT) filed a Annual Report (10-K) with the SEC on February 14, 2024. Occidental Petroleum Corp. filed its 2023 Form 10-K on February 14, 2024. The filing covers the fiscal year ending December 31, 2023. Key segments include Oil & Gas, Chemical, and Midstream. The company is incorporated in Delaware. The filing includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking OCCIDENTAL PETROLEUM CORP /DE/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Occidental Petroleum's financial health and operational performance for the fiscal year 2023, crucial for investors assessing the company's stability and future prospects. The detailed segment information (Oil & Gas, Chemical, Midstream) allows stakeholders to understand the revenue drivers and performance of each business unit within Occidental Petroleum.

Risk Assessment

Risk Level: medium — OCCIDENTAL PETROLEUM CORP /DE/ shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of financial and operational information, but does not inherently signal immediate positive or negative developments beyond routine disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-K to identify trends and potential investment opportunities or risks.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year end date)
• 125 — Document Count (Number of documents in the filing)
• 2023 — Reporting Period (Conformed period of report)
• 2024-02-14 — Filing Date (Filed as of date)

Key Players & Entities

• OCCIDENTAL PETROLEUM CORP /DE/ (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-14 (date) — Filed as of date
• 10-K (document) — Form type
• Delaware (location) — State of incorporation
• HOUSTON (location) — Business address city
• 7132157000 (phone) — Business phone
• OXY (ticker) — Ticker symbol

FAQ

Key Dates

• 2024-02-14: 10-K Filing — Annual report filing date
• 2023-12-31: Fiscal Year End — End date of the reporting period

Key Financial Figures

• $0.20 — ange on Which Registered Common Stock, $0.20 par value OXY New York Stock Exchange
• $58.80 — price on the New York Stock Exchange of $58.80 per share of Common Stock on June 30, 2

Filing Documents

• oxy-20231231.htm (10-K) — 4164KB
• oxyex2112-31x2023subsidiar.htm (EX-21.1) — 189KB
• exhibit2312023kpmgconsentl.htm (EX-23.1) — 2KB
• oxyex23212-31x2023rydersco.htm (EX-23.2) — 4KB
• exhibit311-10xk123123.htm (EX-31.1) — 11KB
• exhibit312-10xk123123.htm (EX-31.2) — 10KB
• exhibit321-10xk123123.htm (EX-32.1) — 10KB
• exhibit971-10xk123123.htm (EX-97.1) — 10KB
• oxyex99112-31x2023rydersco.htm (EX-99.1) — 121KB
• image_2.jpg (GRAPHIC) — 93KB
• image_3.jpg (GRAPHIC) — 79KB
• oxy-20231231_g1.jpg (GRAPHIC) — 205KB
• oxy-20231231_g2.jpg (GRAPHIC) — 98KB
• oxy-20231231_g3.jpg (GRAPHIC) — 335KB
• oxy-20231231_g4.jpg (GRAPHIC) — 427KB
• rslogo2a01.jpg (GRAPHIC) — 77KB
• rslogoa02.jpg (GRAPHIC) — 28KB
• 0000797468-24-000034.txt (&nbsp;) — 21394KB
• oxy-20231231.xsd (EX-101.SCH) — 116KB
• oxy-20231231_cal.xml (EX-101.CAL) — 177KB
• oxy-20231231_def.xml (EX-101.DEF) — 650KB
• oxy-20231231_lab.xml (EX-101.LAB) — 1415KB
• oxy-20231231_pre.xml (EX-101.PRE) — 931KB
• oxy-20231231_htm.xml (XML) — 2904KB

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24

Legal Proceedings

Item 3. Legal Proceedings 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 25 Information about Executive Officers 26 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 62

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 64

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 131

Controls and Procedures

Item 9A. Controls and Procedures 131

Other Information

Item 9B. Other Information 131

Disclosure Regarding Foreign Jurisdictions that Prevented Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevented Inspections 131 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 132

Executive Compensation

Item 11. Executive Compensation 132

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 132

Certain Relationships and Related Transactions and Director Independence

Item 13. Certain Relationships and Related Transactions and Director Independence 132

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 133 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 133

Form 10-K Summary

Item 16. Form 10-K Summary 135 ABBREVIATIONS USED WITHIN THIS DOCUMENT AAPG American Association of Petroleum Geologists AOC Administrative Order on Consent Anadarko Anadarko Petroleum Corporation and its consolidated subsidiaries Anadarko Acquisition A transaction pursuant to the Agreement and Plan of Merger dated May 9, 2019, in which Occidental acquired all of the outstanding shares of Anadarko on August 8, 2019, and in which a wholly owned subsidiary of Occidental merged with and into Anadarko Andes Andes Petroleum Ecuador Ltd. ARO asset retirement obligations Bcf billions of cubic feet Bcf/d billions of cubic feet per day Berkshire Hathaway Berkshire Hathaway Inc. BlackRock BlackRock Inc., which has formed a joint venture with Occidental on the construction of STRATOS BLM U.S. Bureau of Land Management the Board Occidental Board of Directors Boe barrels of oil equivalent BOEM U.S. Bureau of Ocean Energy Management CCUS carbon capture, utilization and storage CERCLA Comprehensive Environmental Response, Compensation, and Liability Act CEO Chief Executive Officer CO 2 carbon dioxide Common Stock Warrants a distribution of warrants to holders of Occidental common stock CROCE cash return on capital employed CROCEI cash return on capital employed incentive CrownRock Acquisition A pending transaction pursuant to the Purchase Agreement in which Occidental seeks to acquire all of the outstanding partnership interests of CrownRock, L.P. DAC direct air capture DASS Diamond Alkali Superfund Site DD&A depreciation, depletion and amortization DEL Dolphin Energy Limited DIB diversity, inclusion and belonging DOJ U.S. Department of Justice DSCC Diamond Shamrock Chemicals Company ECMC Colorado Energy and Carbon Management Commission, formerly the Colorado Oil & Gas Conservation Commission EDC ethylene dichloride EOR enhanced oil recovery EPA U.S. Environmental Protection Agency EPS earnings per share ERG Employee Resource Group

View Full Filing

View this 10-K filing on SEC EDGAR