Occidental Petroleum Files 8-K

TL;DR

OXY filed an 8-K on 7/19/24, updating corporate info. Nothing major, just standard reporting.

AI Summary

Occidental Petroleum Corporation filed an 8-K on July 19, 2024, to report other events and financial statements. The filing details the company's principal executive offices located at 5 Greenway Plaza, Suite 110, Houston, Texas, 77046, and its primary business in crude petroleum and natural gas extraction.

Why It Matters

This filing provides an update on Occidental Petroleum's corporate information and financial reporting, which is important for investors to stay informed about the company's status.

Risk Assessment

Risk Level: low — This filing is a routine 8-K reporting corporate information and financial statements, with no immediate material events disclosed.

Key Players & Entities

• Occidental Petroleum Corporation (company) — Registrant
• 5 Greenway Plaza, Suite 110, Houston, Texas, 77046 (location) — Principal Executive Offices
• July 19, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.20 — nge on Which Registered Common Stock, $0.20 par value OXY New York Stock Exchange
• $3.6 billion — tion purchase price to be approximately $3.6 billion (which equates to approximately thirty

Filing Documents

• oxy-20240719.htm (8-K) — 59KB
• exhibit231consentofbdousal.htm (EX-23.1) — 2KB
• exhibit232consentofcawleyg.htm (EX-23.2) — 7KB
• exhibit991crownrocklpfinan.htm (EX-99.1) — 348KB
• exhibit992reportofcawleygi.htm (EX-99.2) — 99KB
• exhibit993crownrocklpfinan.htm (EX-99.3) — 223KB
• exhibit994unauditedproform.htm (EX-99.4) — 576KB
• 0000797468-24-000125.txt ( ) — 1639KB
• oxy-20240719.xsd (EX-101.SCH) — 3KB
• oxy-20240719_def.xml (EX-101.DEF) — 16KB
• oxy-20240719_lab.xml (EX-101.LAB) — 28KB
• oxy-20240719_pre.xml (EX-101.PRE) — 16KB
• oxy-20240719_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events CrownRock Acquisition As previously disclosed, on December 10, 2023, Occidental Petroleum Corporation, a Delaware corporation ("Occidental"), entered into a Partnership Interest Purchase Agreement (the "Purchase Agreement") with CrownRock Holdings, L.P., a Delaware limited partnership ("Limited Partner"), CrownRock GP, LLC, a Delaware limited liability company ("General Partner" and, together with the Limited Partner, the "Sellers"), Coral Holdings LP, LLC, a Delaware limited liability company and a wholly owned indirect subsidiary of Occidental ("LP Purchaser"), and Coral Holdings GP, LLC, a Delaware limited liability company and wholly owned indirect subsidiary of Occidental ("GP Purchaser" and, together with the LP Purchaser, the "Purchasers"). Subject to the terms and conditions of the Purchase Agreement, the Purchasers will purchase 100% of the issued and outstanding partner interests of CrownRock, L.P., a Delaware limited partnership ("CrownRock"), from the Sellers (such transaction, the "Acquisition" and, together with the other transactions contemplated by the Purchase Agreement, the "Transactions"). The Acquisition is conditioned on, among other things, the expiration or termination of the waiting period (and any extensions thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), which has occurred. With the expiration of the waiting period, the conditions to closing have been satisfied, other than those that are to be satisfied at closing. The Acquisition is expected to close in August 2024, after completion of the financing marketing period contemplated by the Purchase Agreement. Ecopetrol Transaction In 2019, Occidental Midland Basin, LLC, a Delaware limited liability company and Occidental's wholly owned indirect subsidiary ("Occidental Midland Basin"), and Ecopetrol Permian LLC, a Delaware limited liability company ("Ecopetrol"), formed Rodeo Midland Basin, LLC, a Delaware limited

Financial Statements

Financial Statements The following audited consolidated financial statements of CrownRock as of and for the year ended December 31, 2023 and the related notes thereto are filed as Exhibit 99.1 to this Current Report on Form 8-K and are incorporated herein by reference: Independent Auditor's Report; Consolidated Balance Sheet at December 31, 2023; Consolidated Statement of Income and Comprehensive Income for the year ended December 31, 2023; Consolidated Statement of Partners' Capital for the year ended December 31, 2023; Consolidated Statement of Cash Flows for the year ended December 31, 2023; and

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements. Attached hereto as Exhibit 23.1 is the consent of BDO USA, P.C., the independent auditors to CrownRock, related to the above-referenced audited consolidated financial statements of CrownRock filed as Exhibit 99.1 to this Current Report on Form 8-K. The report prepared by Cawley, Gillespie & Associates, Inc. relating to CrownRock's estimated quantities of its proved natural gas, natural gas liquids and crude oil reserves as of December 31, 2023 is filed as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference herein. Attached hereto as Exhibit 23.2 is the consent of Cawley, Gillespie & Associates, Inc., the independent petroleum engineers to CrownRock, related to the above-referenced report filed as Exhibit 99.2 to this Current Report on Form 8-K. The following unaudited condensed consolidated financial statements of CrownRock as of and for the three months ended March 31, 2024 and the related notes thereto are filed as Exhibit 99.3 to this Current Report on Form 8-K and are incorporated herein by reference: Unaudited Condensed Consolidated Statement of Income for the Three Months Ended March 31, 2024; Unaudited Condensed Consolidated Balance Sheet at March 31, 2024; Unaudited Condensed Consolidated Statement of Partners' Capital for the Three Months Ended March 31, 2024; Unaudited Condensed Consolidated Statement of Cash Flows for the Three Months Ended March 31, 2024; and Notes to the Unaudited Condensed Consolidated Financial Statements The following unaudited pro forma condensed combined financial statements combining the historical consolidated financial statements of Occidental and its subsidiaries and CrownRock and its majority-owned subsidiaries to give effect to the Transactions and adjusting for the Ecopetrol Transaction (which is subject to entry into definitive agreements and consummation of the transactions contemplated thereby), are filed as Exhibit 99.4 to this Current Re

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . 23.1 Consent of BDO USA, P.C . , the independent auditors to CrownRock , L .P . 23.2 Consent of Cawley, Gillespie & Associates, Inc., the independent petroleum engineers to CrownRock. 99.1 CrownRock, L.P. Audited Consolidated Financial Statements as of December 31, 2023 and for the year ended December 31, 2023, and accompanying notes thereto. 99.2 Report of Cawley, Gillespie & Associates, Inc., dated January 24 , 2024, with respect to estimates of reserves and future net revenues of CrownRock, L.P. as of December 31, 2023. 99.3 CrownRock, L.P. Unaudited Condensed Consolidated Financial Statements as of March 31, 2024 and for the three months ended March 31, 2024, and accompanying notes thereto. 99.4 Unaudited Pro Forma Condensed Combined Financial Statements. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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. July 19, 2024 OCCIDENTAL PETROLEUM CORPORATION By: /s/ Christopher O. Champion Name: Christopher O. Champion Title: Vice President, Chief Accounting Officer and Controller

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View this 8-K filing on SEC EDGAR