Occidental Petroleum generated approximately $2.8 billion of free cash flow, repaid $1.8 billion of principal debt, achieved its $10 billion debt milestone, and established a new $6 billion milestone.
OXY · Occidental Petroleum Corp · Documents
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Occidental completed the $9.5 billion OxyChem sale on January 2, 2026, recognized a $3.1 billion gain after taxes, and used approximately $7.9 billion of net after-tax proceeds with operating cash flow to repay approximately $10.4 billion of debt.
Occidental reported third-quarter 2026 EPS of $1.61 and free cash flow before working capital from continuing operations of $2.8 billion. Principal debt fell to $10.0 billion, while global production averaged 1,427 Mboed.
Occidental Petroleum Corporation said third quarter 2026 production was within guidance despite temporary Gulf of America downtime; crude oil collar settlements reduced operating cash flow before working capital by $94 million.