OCCIDENTAL PETROLEUM CORP /DE/ (OXY): M&A transaction — Occidental completes $12.4B acquisition of CrownRock, closing on August 1, 2024

OCCIDENTAL PETROLEUM CORP /DE/

Aggregate consideration $12.4B: $9.4B cash, 29.56M OXY shares, assumption of $1.2B CrownRock debt.
Registration rights agreement grants sellers demand and piggyback rights; OXY to file resale shelf within 5 business days.
CEO Vicki Hollub says acquisition strengthens portfolio with low-emission, low-cost energy assets.
Acquisition closed August 1, 2024; OXY issued press release announcing completion.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

OCCIDENTAL PETROLEUM CORP /DE/ completed an acquisition involving CrownRock Holdings, L.P., CrownRock GP, LLC for approximately $12.4 billion (closed 2024-08-01).

Action: acquisition
Counterparty: CrownRock Holdings, L.P., CrownRock GP, LLC
Consideration: approximately $12.4 billion
Closing: 2024-08-01

Exact text from the filing

all of the issued and outstanding partner interests of CrownRock. Pursuant to the Purchase Agreement, the aggregate consideration for the Transactions was approximately $12.4 billion, consisting of approximately $9.4 billion in cash (inclusive of certain working capital and other customary purchase price adjustments), 29,560,619 shares of Common Stock (the

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Source: SEC EDGAR

accession 0000797468-24-000130

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