Occidental Petroleum Issues Warrants for Common Stock on Feb 2

TL;DR

**OXY issued new warrants, potential dilution ahead.**

AI Summary

On February 2, 2024, Occidental Petroleum Corporation entered into a material definitive agreement to issue warrants to purchase common stock. This matters to investors because the issuance of new warrants could potentially dilute the value of existing common shares if exercised, impacting the stock price and ownership percentage for current shareholders.

Why It Matters

The issuance of warrants could lead to dilution of existing shares if exercised, potentially impacting shareholder value and the company's stock price. This increases the number of shares outstanding, spreading earnings over more shares.

Risk Assessment

Risk Level: medium — The issuance of warrants introduces potential future dilution, which is a moderate risk for current shareholders.

Analyst Insight

A smart investor would monitor the exercise of these warrants and assess the potential for dilution, considering its impact on earnings per share and overall stock valuation before making investment decisions.

Key Players & Entities

• OCCIDENTAL PETROLEUM CORP /DE/ (company) — the registrant issuing warrants
• February 2, 2024 (date) — date of earliest event reported regarding warrant issuance
• Delaware (company) — state of incorporation for Occidental Petroleum Corporation
• 1-9210 (dollar_amount) — Commission File Number
• 95-4035997 (dollar_amount) — IRS Employer Identification No.
• 5 Greenway Plaza , Suite 110 Houston , Texas 77046 (company) — address of Principal Executive Offices
• (713) 215-7000 (dollar_amount) — Registrant’s Telephone Number

Forward-Looking Statements

• Occidental Petroleum's stock price may experience downward pressure due to potential dilution from warrant exercises. (OCCIDENTAL PETROLEUM CORP /DE/) — medium confidence, target: 2024-12-31

FAQ

Key Financial Figures

• $0.20 — ange on Which Registered Common Stock, $0.20 par value OXY New York Stock Exchan

Filing Documents

• form8-k.htm (8-K) — 34KB
• ex10-1.htm (EX-10.1) — 748KB
• 0000950157-24-000113.txt ( ) — 1107KB
• oxy-20240202.xsd (EX-101.SCH) — 4KB
• oxy-20240202_def.xml (EX-101.DEF) — 17KB
• oxy-20240202_lab.xml (EX-101.LAB) — 27KB
• oxy-20240202_pre.xml (EX-101.PRE) — 19KB
• form8-k_htm.xml (XML) — 6KB

01 Entry into a Material

Item 1.01 Entry into a Material Definitive Agreement. Amended and Restated Revolving Credit Agreement On February 2, 2024, Occidental Petroleum Corporation (" Occidental ") entered into a Third Amended and Restated Credit Agreement (the " Revolving Credit Agreement " and the facility thereunder, the " Revolving Credit Facility ") among Occidental, the banks party thereto, as lenders, and JPMorgan Chase Bank, N.A., as administrative agent. The Revolving Credit Agreement amends and restates that certain Amended and Restated Credit Agreement dated as of June 3, 2019 (as amended, amended and restated, supplemented or otherwise modified, the " Existing Credit Agreement " and the facility provided thereunder the " Existing Revolving Credit Facility ") among Occidental, the banks party thereto, as lenders, and JPMorgan Chase Bank, N.A., as administrative agent, and provides, among other things, for the maturity of the Existing Revolving Credit Facility to be extended from June 30, 2025 to June 30, 2028. Loans under the Revolving Credit Facility will continue to constitute senior unsecured obligations of Occidental and will bear interest, at Occidental's option, at either the Adjusted Term SOFR Rate (determined in accordance with the Revolving Credit Agreement) or the Alternate Base Rate (determined in accordance with the Revolving Credit Agreement), in each case plus a per annum applicable margin that fluctuates between 100.0 and 190.0 basis points, in the case of loans priced at the Adjusted Term SOFR Rate, and between 0.0 basis points and 90.0 basis points, in the case of loans priced at the Alternate Base Rate, in each case based upon the long-term unsecured senior, non-credit enhanced debt ratings of Occidental by Moody's Investors Service, Inc., Standard & Poor's Ratings Services, a Standard and Poor's Financial Services LLC business, and Fitch Ratings, Inc., subject to certain provisions taking into account potential differences in ratings issued by the relevant

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information required by Item 2.03 is included under Item 1.01 "Entry into a Material Definitive Agreement" and that information is incorporated herein by reference.

01 Financial Statements and

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 10.1* Third Amended and Restated Credit Agreement, dated as of February 2, 2024, by and among Occidental Petroleum Corporation, the banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Exhibits and/or schedules omitted pursuant to Item 601(a)(5) of Regulation S-K. Occidental agrees to furnish supplementally a copy of any omitted exhibit or schedule to the U.S. Securities and Exchange Commission upon request.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. OCCIDENTAL PETROLEUM CORPORATION By: /s/ Nicole E. Clark Name: Nicole E. Clark Title: Vice President, Corporate Secretary and Chief Compliance Officer Date: February 5, 2024

View Full Filing

View this 8-K filing on SEC EDGAR