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OXY 8-K filings, explained
Every material Form 8-K Occidental Petroleum has filed with the SEC since August 06, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Occidental Petroleum said in an 8-K that its third quarter 2026 production is within guidance, despite temporary September curtailments at Gulf of America facilities caused by a third-party gas pipeline constraint and maintenance. The company also said crude oil collar settlements reduced operating cash flow before working capital by $94 million, and it provided preliminary Q3 price, volume and share count figures ahead of full results. The considerations are preliminary and not an earnings estimate, so shareholders will need the final third quarter report to gauge profit.
Total company Q3 2026 production is within Occidental's guidance range, including the Gulf of America downtime
Gulf of America net sales volumes were 110 Mboed and domestic lease operating cost was $8.54 per boe in the quarter
Crude oil collar settlements reduced Q3 operating cash flow before working capital by $94 million
Worldwide average realized oil price was $85.91 per barrel versus WTI at $85.79; average diluted shares were 1,012.8 million
Occidental reported second-quarter 2026 net income of $2.8 billion, or $2.75 per diluted share, and adjusted EPS from continuing operations of $2.40, up from $1.06 in the first quarter. Reported EPS was below the $3.13 posted in the first quarter, which included $3.1 billion from discontinued operations. For shareholders, the company raised its quarterly dividend 8% to $0.28 per share and cut principal debt by $1.9 billion to $11.8 billion.
Net sales were $8.1 billion in Q2 2026, up from $5.2 billion in Q1 2026.
Reported EPS was $2.75 versus $3.13 in Q1 2026; adjusted EPS from continuing operations was $2.40 versus $1.06.
Dividend increased to $0.28 per share, payable October 15, 2026, to holders of record as of September 10, 2026.
Principal debt reduced by $1.9 billion to $11.8 billion; operating cash flow from continuing operations was $5.1 billion.
Occidental Petroleum released a preliminary summary of factors it expects to affect second-quarter 2026 results, furnished as Exhibit 99.1 to an 8-K. The filing is not a full earnings release or an estimate of quarterly earnings, and the figures are subject to finalization. Shareholders get a first look at realized prices and a $156 million cash flow hit from crude oil collar settlements.
Crude oil collar settlements reduced operating cash flow before working capital by $156 million in Q2 2026.
Worldwide realized oil price averaged $96.78 per barrel, versus average WTI of $92.79 and Brent of $97.06.
Worldwide realized natural gas price was $(0.80) per Mcf, with the United States at $(1.48) per Mcf.
Average diluted shares outstanding were 1,012.2 million for the quarter.
Occidental reported first-quarter 2026 net income attributable to common stockholders of $3.2 billion, or $3.13 per diluted share, and adjusted EPS from continuing operations of $1.06. The reported profit was driven by the gain on the OxyChem sale within discontinued operations, while adjusted EPS fell from $2.21 in the fourth quarter of 2025, and the company said it repaid $7.1 billion of principal debt through May 5.
Net sales were $5,230 million, up from $5,112 million in the fourth quarter of 2025 and down from $5,704 million in the first quarter of 2025.
Adjusted EPS from continuing operations was $1.06, compared with $2.21 in the fourth quarter of 2025 and $0.87 in the first quarter of 2025.
Total company production of 1,426 Mboed exceeded the high end of guidance, and midstream and marketing adjusted pre-tax income exceeded the high end of guidance.
Principal debt was reduced to $13.3 billion, with $7.1 billion repaid through May 5, 2026, and the company is progressing toward a $10.0 billion milestone.
Occidental CEO Vicki Hollub will retire as President and CEO effective June 1, 2026, and will remain on the Board. The Board named Senior Vice President and Chief Operating Officer Richard Jackson, 50, as her successor, effective the same date, with a base salary of $1,400,000 and a $6,000,000 restricted stock unit grant. At the May 1, 2026 annual meeting, shareholders also elected all ten Board nominees and approved the advisory pay vote with 94.34% support.
Vicki Hollub retires as President and CEO effective June 1, 2026, and will continue as a director.
Richard Jackson, 50, joined Occidental in 2003 and has served as Senior Vice President and COO since October 2025.
Jackson's base salary will rise to $1,400,000, his target annual cash incentive will be 150% of base salary, and he will receive $6,000,000 in restricted stock units vesting over three years.
Shareholders approved the advisory vote on named executive officer compensation with 94.34% For and ratified KPMG as auditor with 97.70% For.
Occidental Petroleum filed a preliminary summary of factors it says will affect its first quarter 2026 results, furnished as Exhibit 99.1 to an 8-K dated April 10, 2026. The document does not report revenue, net income or earnings per share, and it states that it is not an estimate of first quarter earnings. It does show average realized prices for oil, NGLs and natural gas, which give shareholders a view of pricing for the quarter.
Worldwide realized oil price averaged $69.91 per barrel for the three months ended March 31, 2026, versus average WTI of $71.93 and Brent of $77.93.
Worldwide realized natural gas price averaged $1.20 per Mcf, against an average NYMEX gas index price of $3.93.
Worldwide realized NGL price averaged $18.99 per barrel; average diluted shares outstanding were 1,006.9 million.
Occidental Petroleum said that as of 5:00 p.m. New York time on March 4, 2026, holders had tendered notes exceeding its tender cap, so it raised the maximum principal it will buy from $700 million to $1.2 billion and accepted $1.2 billion of notes across three series. The 6.125% 2031 notes were accepted in full, the 6.625% 2030 notes were prorated at 28.7%, and the 2029 debentures were not accepted, while a supplemental indenture removes certain covenants from the 6.125% 2031 notes.
Accepted for purchase: $843,259,000 of 6.125% 2031 notes (100% proration), $335,208,000 of 6.625% 2030 notes (28.7% proration), and $21,533,000 of zero coupon 2036 notes
The 7.200% and 7.950% 2029 debentures were not accepted, and consents for the 2030 notes and 2029 debentures were not obtained, so those indentures are unchanged
The Fifth Supplemental Indenture for the 6.125% 2031 notes became operative March 9, 2026, and sets the minimum redemption notice period at 5 business days
Early settlement is March 9, 2026, and the tender offers expire at 5:00 p.m. New York time on March 19, 2026 unless extended or terminated
Occidental reported a fourth-quarter 2025 net loss attributable to common stockholders of $68 million, or $0.07 per diluted share, and adjusted income of $315 million, or $0.31 per diluted share, mainly reflecting charges and transaction costs tied to the OxyChem sale. Shareholders also got a dividend increase to $0.26 per share, and the company said it reduced debt by $5.8 billion after the OxyChem sale closed on January 2, 2026.
Q4 2025 net loss of $68 million ($0.07 per diluted share) versus reported income of $661 million ($0.65 per share) in Q3 2025
Q4 2025 adjusted income of $315 million ($0.31 per diluted share), down from $649 million ($0.64) in Q3 2025
Total company production of 1,481 Mboed, above the high end of guidance; operating cash flow of $2.6 billion
Quarterly dividend raised by more than 8% to $0.26 per share, payable April 15, 2026, to holders of record as of March 10, 2026
Occidental Petroleum released preliminary fourth-quarter 2025 earnings considerations and furnished them as Exhibit 99.1 to an 8-K filed January 20, 2026. The document does not give a fourth-quarter earnings estimate and says the figures are preliminary and subject to finalization, so it does not show whether results improved or declined.
OxyChem sale closed January 2, 2026; its results will be reported as discontinued operations, starting with the 2025 Form 10-K.
Expected fourth-quarter 2025 adjusted effective tax rate: 35% to 37% for continuing operations and 24% to 26% for discontinued operations.
Worldwide realized oil price averaged $58.99 per barrel versus an average WTI index price of $59.14; worldwide realized natural gas averaged $1.29 per Mcf versus a NYMEX index price of $3.61.
Average diluted shares outstanding for the fourth quarter of 2025 were 1,002.9 million.
Occidental completed the sale of its chemical business, OxyChem, to Berkshire Hathaway on January 2, 2026, for $9.7 billion in cash, subject to customary purchase price adjustments. The company says the deal accelerates its plan to strengthen its balance sheet, and its pro forma figures also reflect the redemption of $6.5 billion of debt. Pro forma results that remove OxyChem show lower nine-month 2025 diluted earnings per share from continuing operations of $1.50, compared with $1.68 as reported.
Sale completed January 2, 2026, for $9.7 billion in cash, subject to customary purchase price adjustments.
Pro forma figures reflect redemption of $6.5 billion of Occidental debt.
Nine-month 2025 diluted EPS from continuing operations: $1.50 pro forma versus $1.68 historical.
Occidental's subsidiary Environmental Resource Holdings, LLC retained OxyChem's legacy tort claims and environmental liabilities; OxyChem results will be reported as discontinued operations starting Q4 2025.
Occidental reported third-quarter 2025 net income attributable to common stockholders of $661 million, or $0.65 per diluted share, and adjusted income of $649 million, or $0.64 per share. Results improved sharply from the second quarter but declined from the third quarter of 2024, and the company repaid $1.3 billion of debt, reducing principal debt to $20.8 billion.
Q3 2025 reported EPS $0.65 vs $0.26 in Q2 2025 and $0.98 in Q3 2024; adjusted EPS $0.64 vs $0.39 in Q2 2025 and $1.00 in Q3 2024
Total company production of 1,465 Mboed exceeded the high end of guidance
Operating cash flow of $2.8 billion; $1.3 billion of debt repaid in the quarter
Occidental Petroleum released a preliminary summary of factors it expects to affect its third quarter 2025 results, but the filing does not include revenue, profit, or per-share earnings figures. It states that the summary is not an estimate of third quarter earnings and is subject to finalization, so shareholders will need the full results to judge the quarter.
Worldwide average realized oil price was $64.78 per barrel in the third quarter, versus an average WTI index price of $64.93.
Average diluted shares outstanding were 1,003.1 million for the third quarter of 2025.
Worldwide realized NGL price was $19.60 per barrel and realized natural gas price was $1.57 per Mcf, compared with a NYMEX gas index price of $3.28 per Mcf.
The filing references the proposed sale of Occidental's chemical business to Berkshire Hathaway Inc. as a factor that could affect results.
Occidental's Board of Directors promoted Richard A. Jackson, 49, to Chief Operating Officer effective October 1, 2025, while he continues as Senior Vice President. He will oversee global oil and gas operations, low-carbon technologies, midstream and marketing, and health, safety and environment functions, reporting to CEO Vicki Hollub.
Jackson's base salary rises to $925,000 per year, with a 2025 target annual cash incentive of $925,000.
Jackson received restricted stock units valued at $1,500,000, vesting in equal annual installments over three years.
Jackson has been an Occidental employee since 2003 and previously served as President of Operations for U.S. Onshore Resources and Carbon Management.
Occidental Petroleum's subsidiaries agreed on October 1, 2025 to sell all equity in Occidental Chemical Corporation, which holds its chemical business OxyChem, to Berkshire Hathaway in an all-cash deal. The filing says the price is $9.7 billion, subject to customary cash, debt and working capital adjustments, and the sale is subject to regulatory approvals and other closing conditions.
Purchase price is $9.7 billion in cash, subject to customary adjustments for cash, indebtedness and working capital.
Closing is subject to the Hart-Scott-Rodino waiting period and other required regulatory consents.
Either party may terminate if closing has not occurred by March 30, 2026, with a 90-day automatic extension if regulatory conditions are unmet.
Occidental will guarantee the indemnification obligations of OCH and ERH under the agreement, and ERH retains environmental liabilities for OxyChem's legacy sites.
Occidental reported second-quarter 2025 net income attributable to common stockholders of $288 million, or $0.26 per diluted share, down from $766 million, or $0.77 per share, in the first quarter. Adjusted earnings were $0.39 per diluted share, and the company reduced the mid-point of its 2025 capital guidance by $100 million and international operating costs by $50 million. For shareholders, lower earnings are offset in part by production above the mid-point of guidance and $3.0 billion of debt repaid year-to-date.
Net income of $288 million, or $0.26 per diluted share, versus $766 million, or $0.77, in the first quarter of 2025; adjusted earnings of $0.39 per diluted share
Total production of 1,400 Mboed, above the mid-point of guidance; oil and gas pre-tax income of $934 million
Operating cash flow of $3.0 billion and free cash flow before working capital of $0.7 billion; $3.0 billion of debt repaid year-to-date
2025 capital guidance mid-point reduced by $100 million and international operating costs by $50 million
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