secwatch.observer — SEC 8-K summary
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Issuer:     OCCIDENTAL PETROLEUM CORP /DE/ (OXY)
CIK:        0000797468
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0000797468-24-000125
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HSR clearance for CrownRock deal; Ecopetrol may buy 30% stake for ~$3.6B
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- HSR waiting period for CrownRock acquisition expired; closing expected August 2024.
- Ecopetrol in talks to acquire 30% interest in CrownRock assets for ~$3.6B, subject to definitive agreement.
- If no agreement by August 2024, Ecopetrol can opt for indirect 49% interest via Rodeo Midland Basin JV.
- Proceeds from Ecopetrol Transaction would be used to repay term loans.
- CrownRock 2023 net income $1,278.6M, total assets $4,442.2M, debt $1,237.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/797468/000079746824000125/0000797468-24-000125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/797468/000079746824000125/oxy-20240719.htm
  HTML page:      https://secwatch.observer/filing/0000797468-24-000125

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