Occidental Petroleum Enters Material Definitive Agreement

TL;DR

OXY signed a big deal on Oct 1st, details TBD.

AI Summary

On October 1, 2025, Occidental Petroleum Corporation entered into a material definitive agreement. The filing does not provide specific details on the agreement or any associated dollar amounts or parties involved.

Why It Matters

This filing indicates a significant new agreement for Occidental Petroleum, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and potential impact of the material definitive agreement.

Key Players & Entities

• Occidental Petroleum Corporation (company) — Registrant
• October 1, 2025 (date) — Date of Earliest Event Reported

FAQ

Key Financial Figures

• $0.20 — nge on Which Registered Common Stock, $0.20 par value OXY New York Stock Exchan
• $9.7 b — ash transaction (the "Transaction") for $9.7 billion, subject to customary adjustments

Filing Documents

• ef20056633_8k.htm (8-K) — 48KB
• ef20056633_ex2-1.htm (EX-2.1) — 747KB
• 0001140361-25-037234.txt ( ) — 1116KB
• oxy-20251001.xsd (EX-101.SCH) — 4KB
• oxy-20251001_def.xml (EX-101.DEF) — 17KB
• oxy-20251001_lab.xml (EX-101.LAB) — 26KB
• oxy-20251001_pre.xml (EX-101.PRE) — 19KB
• ef20056633_8k_htm.xml (XML) — 6KB

01

Item 1.01 Entry into a Material Definitive Agreement. On October 1, 2025, Occidental Chemical Holding, LLC ("OCH"), and Environmental Resource Holdings, LLC ("ERH"), each wholly-owned indirect subsidiaries of Occidental Petroleum Corporation ("Occidental"), entered into a purchase and sale agreement (the "Purchase Agreement") with Berkshire Hathaway Inc. ("Berkshire Hathaway"), pursuant to which, subject to the terms and conditions set forth therein, Berkshire Hathaway has agreed to acquire from Occidental all of the issued and outstanding equity interests in Occidental Chemical Corporation ("OCC"), which holds Occidental's chemical business ("OxyChem"), in an all-cash transaction (the "Transaction") for $9.7 billion, subject to customary adjustments for cash and indebtedness and for changes in working capital from an agreed upon working capital target. OxyChem is a global manufacturer of commodity chemicals, with applications in water treatment, pharmaceuticals, healthcare and commercial and residential development. The Purchase Agreement contains customary representations and warranties of OCH and ERH, including those relating to the business and operations of OxyChem, in each case subject to various materiality qualifiers. The Purchase Agreement also contains customary representations and warranties of Berkshire Hathaway, subject to customary materiality qualifiers. The Purchase Agreement provides for customary covenants, including covenants relating to (i) OCH using commercially reasonable efforts to operate OxyChem in the ordinary course and to refrain from taking certain actions without Berkshire Hathaway's consent during the period from the execution of the Purchase Agreement to the closing of the Transaction (the "Closing") and (ii) the parties using reasonable best efforts to obtain certain regulatory approvals necessary to consummate the Transaction. OCH has also agreed to indemnify Berkshire Hathaway for any (a) pre-closing liabilities of OxyChem, (b)

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits . 2.1 Purchase and Sale Agreement, dated as of October 1, 2025, by and among Berkshire Hathaway Inc., Occidental Chemical Holding, LLC and, solely for the limited purposes therein, Environmental Resource Holdings, LLC.* 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Schedules and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The registrant agrees to furnish supplementally to the U.S. Securities and Exchange Commission (the "SEC") a copy of any omitted schedule or exhibit upon request by the SEC.

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K ("Current Report") contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements about Occidental's expectations, beliefs, plans or forecasts, including the proposed sale of Occidental's chemical business to Berkshire Hathaway and the benefits of such sale. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause results to differ from those projected or assumed in any forward-looking statement include, but are not limited to: Occidental's ability to consummate the Transaction; the possibility that any or all of the conditions to the Transaction may not be satisfied or waived, including the failure to obtain the regulatory approvals required for the Transaction on the terms expected or on the anticipated schedule or at all; the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement relating to the Transaction; the effect of the announcement or pendency of the Transaction on our ability to attract, motivate or retain key executives and employees, our ability to maintain relationships with our customers, vendors, service providers and others with whom we do business, or our operating results and business generally; risks related to the Transaction diverting management's attention from our ongoing business operations; that the Transaction may not achieve some or all or any of the anticipated benefits or be completed in accordance with expected plans and timelines; general economic conditions, including slowdowns and recessions, domestically or internationally; Occidental's indebtedness and other payment ob

View Full Filing

View this 8-K filing on SEC EDGAR