ADDED
As of January 31, 2026, there were 986,266,656 shares of Common Stock outstanding, par value $0.20 per share.
Form 10-K Summary 129 ABBREVIATIONS AND DEFINED TERMS USED WITHIN THIS DOCUMENT AOC Administrative Order on Consent Anadarko Anadarko Petroleum Corporation and its consolidated subsidiaries Andes Andes Petroleum Ecuador Ltd.
BUSINESS AND PROPERTIES In this Form 10-K, Occidental refers to Occidental Petroleum Corporation, a Delaware corporation; the Company, it, and our refer to Occidental and/or one or more entities in which it owns a controlling interest (subsidiaries).
GENERAL The Company is an international energy company recognized for its premier diversified assets, primarily situated in the United States, the Middle East and North Africa.
The Company s distinguished operational capabilities support sustainable value creation for shareholders.
The Company ranks among the largest oil and gas producers in the U.S., holding leading positions in the Permian and DJ Basins as well as offshore Gulf of America, and is the largest independent oil producer in Oman.
Our midstream and marketing segment ensures flow assurance and optimizes the value of oil and gas operations.
Additionally, Oxy Low Carbon Ventures, a subsidiary within the midstream and marketing segment, focuses on advancing innovative decarbonization technologies and solutions including direct air capture, carbon sequestration and lithium development to advance the Company s growth opportunities while reducing overall emissions and delivering the energy and products the world needs.
RECENT DEVELOPMENTS In October 2025, the Company announced entry into a purchase and sale agreement with Berkshire Hathaway to sell all of the issued and outstanding equity interests in OxyChem in an all-cash transaction for $9.7 billion, subject to post closing adjustments.
The sale was completed on January 2, 2026, resulting in an estimated gain of $3.2 billion, net of taxes subject to post-closing adjustments.
REMOVED
As of January 31, 2025, there were 938,500,965 shares of Common Stock outstanding, par value $0.20 per share.
Form 10-K Summary 132 ABBREVIATIONS USED WITHIN THIS DOCUMENT AOC Administrative Order on Consent Anadarko Anadarko Petroleum Corporation and its consolidated subsidiaries Anadarko Acquisition a transaction pursuant to the Agreement and Plan of Merger dated May 9, 2019, in which Occidental acquired all of the outstanding shares of Anadarko on August 8, 2019, and in which a wholly owned subsidiary of Occidental merged with and into Anadarko Andes Andes Petroleum Ecuador Ltd.
ARO asset retirement obligations Bcf billions of cubic feet Bcf/d billions of cubic feet per day Berkshire Hathaway Berkshire Hathaway Inc.
BlackRock BlackRock Inc., which has formed a joint venture with Occidental on the construction of STRATOS BLM U.S.
Bureau of Land Management the Board Occidental Board of Directors Boe barrels of oil equivalent BOEM U.S.
Bureau of Ocean Energy Management CAD Canadian dollar CCUS carbon capture, utilization and storage CERCLA Comprehensive Environmental Response, Compensation, and Liability Act CEO chief executive officer CO 2 carbon dioxide CODM chief operating decision maker Common Stock Warrants a distribution of warrants to holders of Occidental common stock CROCE cash return on capital employed CROCEI cash return on capital employed incentive CrownRock CrownRock, L.P.
BUSINESS AND PROPERTIES In this Form 10-K, Occidental , we , our and the Company refers to Occidental Petroleum Corporation, a Delaware corporation incorporated in 1986, or Occidental and one or more entities in which it owns a controlling interest (subsidiaries).
Occidental conducts its operations through its various subsidiaries and affiliates.
GENERAL Occidental is an international energy company with premier diversified assets primarily located in the United States, the Middle East and North Africa and distinguished operational capabilities that create a runway for sustainable shareholder value accretion.
Occidental is one of the largest oil and gas producers in the U.S., where it is a leading producer in the Permian and DJ basins, and offshore Gulf of America, and it is the largest independent oil producer in Oman.