Form 8-K · Current report
Occidental Petroleum 8-K, filed Aug 5, 2026
- Filed
- CIK
- 0000797468
- Accession no.
- 0001628280-26-053377
Summary
Occidental Petroleum reported second-quarter 2026 net income attributable to common stockholders of $2.8 billion, or $2.75 per diluted share, and adjusted EPS from continuing operations of $2.40, alongside a quarterly dividend increase of 8% to $0.28 per share and a $1.9 billion reduction in principal debt to $11.8 billion. CEO Richard Jackson said the company expects significant free cash flow growth by 2030 through advanced recovery capabilities, cost efficiencies and a strong balance sheet.
Key points
- Global production averaged 1,433 Mboed in the quarter, above the high end of guidance, with the Permian and Gulf of America units outperforming.
- Occidental generated $5.1 billion of operating cash flow from continuing operations and $3.0 billion of free cash flow before working capital, its highest since the third quarter of 2022, on capital expenditures of $1.6 billion.
- Oil and gas pre-tax income was $2.8 billion versus $1.0 billion in the first quarter, driven by a 38% rise in average worldwide realized crude oil prices to $96.78 per barrel, partly offset by lower domestic natural gas prices.
- The dividend is payable October 15, 2026 to stockholders of record as of September 10, 2026.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 2.02Results of Operations and Financial Condition
- 9.01Financial Statements and Exhibits
From the filing
Item 2.02 Results of Operations and Financial Condition. On August 5, 2026, Occidental Petroleum Corporation (the “Company”) issued a press release announcing the Company’s financial condition and results of operations for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information contained in this report and in Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any filings made by the Company under the Securities Act of 1933…
An excerpt of the text as filed with the SEC, cut for length.
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