OCCIDENTAL PETROLEUM CORP /DE/ (OXY): M&A transaction — Occidental completes $9.7B sale of OxyChem to Berkshire Hathaway, cuts debt $6.5B

OCCIDENTAL PETROLEUM CORP /DE/

Closed Jan 2, 2026; all-cash consideration of $9.7B subject to working capital adjustments.
Proceeds used to redeem $6.5B of Occidental debt; pro forma long-term debt reduced to $15.9B.
Pro forma 9M 2025 net income from continuing ops: $1.53B (diluted EPS $1.50) vs historical $1.72B ($1.68).
Environmental liabilities for legacy tort claims retained by subsidiary Environmental Resource Holdings.
CEO Vicki Hollub says sale strengthens balance sheet and sharpens focus on oil & gas portfolio.

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 a disposition involving Berkshire Hathaway Inc. for $9.7 billion in cash (closed 2026-01-02).

Action: disposition
Counterparty: Berkshire Hathaway Inc.
Consideration: $9.7 billion in cash
Closing: 2026-01-02

Exact text from the filing

On January 2, 2026, and pursuant to the Purchase Agreement, Occidental completed the Divestiture for $9.7 billion in cash, subject to customary purchase price adjustments as set forth in the Purchase Agreement.

View on SEC.gov

Browse all m&a transactions →

OCCIDENTAL PETROLEUM CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001628280-26-000153

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.