Occidental Petroleum Corporation
Occidental Petroleum Initiates Tender Offers for Senior Notes and Debentures
Summary
Occidental Petroleum Corporation has announced cash tender offers to purchase its outstanding Zero Coupon Senior Notes due 2036, 6.125% Senior Notes due 2031, 6.625% Senior Notes due 2030, 7.200% Debentures due 2029, and 7.950% Debentures due 2029, with an option to solicit consents for proposed amendments to the indentures governing these notes. The tender offers and consent solicitations are subject to certain conditions and will expire on March 19, 2026, unless extended or terminated earlier by Occidental. Holders who tender their notes prior to the early tender date will receive an early tender premium. Occidental intends to fund these offers with cash on hand and proceeds from the recent sale of Occidental Chemical Corporation. This action is part of Occidental's financial strategy to manage its debt portfolio.
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About Occidental Petroleum Corporation
Occidental Petroleum Corporation is a global energy producer, primarily focused on the exploration and production of oil and natural gas. Its operations span key regions such as the United States, the Middle East, and Latin America, contributing significantly to the energy supply chain. Aside from its core oil and gas activities, Occidental is actively engaged in chemical production through its subsidiary Occidental Chemical Corporation, which provides essential building blocks for a variety of industries, including agriculture, water treatment, and plastics. As a leader in its field, Occidental is committed to advancing sustainable and low-carbon energy solutions, notably through carbon capture and enhanced oil recovery techniques. The company plays a vital role in meeting global energy demands while striving to reduce environmental impact, thus positioning itself as a key player in the evolving energy landscape.
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