secwatch.observer — SEC 8-K summary
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Issuer:     OCCIDENTAL PETROLEUM CORP /DE/ (OXY)
CIK:        0000797468
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0000797468-23-000074
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Occidental Q2 net income $605M ($0.63/diluted); raises FY production guidance to 1,210 Mboed
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- Adjusted EPS $0.68; cash flow from ops before WC $2.7B; free cash flow $1.0B.
- Production of 1,218 Mboed exceeded guidance midpoint by 42 Mboed; FY guidance raised.
- Repurchased $425M of common stock; redeemed $522M preferred (YTD ~$1.2B or 12% of preferred).
- OxyChem pre-tax income $436M exceeded guidance; oil & gas pre-tax $1.1B vs $1.6B Q1.
- Fitch upgraded OXY to investment grade; asset impairments of $164M in Powder River Basin.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/797468/000079746823000074/0000797468-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/797468/000079746823000074/oxy-20230802.htm
  HTML page:      https://secwatch.observer/filing/0000797468-23-000074

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