Occidental Petroleum Corp 8-K, filed Jan 7, 2020
Occidental Petroleum Corp (OXY)
8-K
2020-01-07
For: 2020-01-02
View Original
Added on
April 06, 2026
About this 8-K
Occidental Petroleum Corp filed this 8-K on January 7, 2020, reporting on events of January 2, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 2, 2020
(Exact Name of Registrant as Specified in Charter)
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(State or Other Jurisdiction of Incorporation)
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(Address of Principal Executive Offices)
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Registrant’s Telephone Number, Including Area Code: (713 ) 215-7000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Trading Symbol(s)
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Name of Each Exchange on Which
Registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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On January 2, 2020, the Board of Directors (the “Board”) of Occidental Petroleum Corporation (“Occidental”) increased the size of the Board from 10 to
11 directors in order to elect Andrew Gould, a former Chairman and Chief Executive Officer of Schlumberger Limited (“Schlumberger”), to the Board effective March 1, 2020.
Mr. Gould has more than 40 years of experience in the oil and gas industry. From 2003 to 2011, he served as Chairman and Chief Executive Officer of
Schlumberger, a leading oilfield services company. Mr. Gould began his career at Schlumberger in 1975 in its Internal Audit department, based in Paris. In addition to his career at Schlumberger, Mr. Gould served as non-Executive Chairman of BG
Group, a multinational oil and gas company, from 2012 until its sale to Royal Dutch Shell in 2016. He served as interim Executive Chairman in 2014. He currently serves as a member of the Board of Directors of Saudi Aramco, a leading global energy
company, and BJ Services, a private oilfield services company. Mr. Gould has an undergraduate degree in Economic History from Cardiff University and qualified as a Chartered Accountant with the Institute of Chartered Accountants in England and
Wales.
There are no arrangements or understandings between Mr. Gould and any other persons pursuant to which he was selected as a director. Mr. Gould has not
been appointed to any committees of the Board at this time. Pursuant to Occidental’s compensation program for non-employee directors, Mr. Gould will be entitled to receive (i) a pro rata portion of the 2019-2020 common stock equity award granted to
non-employee directors and (ii) a pro rata portion of the 2019-2020 retainer paid to non-employee directors.
| Item 7.01 |
Regulation FD Disclosure.
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On January 2, 2020, Occidental issued a press release with respect to Mr. Gould’s election to the Board. The press release, furnished as Exhibit 99.1
hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in such filing.
| Item 9.01 |
Financial Statements and Exhibits.
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(d) Exhibits.
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Exhibit
No.
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Description
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Press Release dated January 2, 2020.
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Date: January 7, 2020
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OCCIDENTAL PETROLEUM CORPORATION
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By:
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/s/ Nicole E. Clark
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Name:
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Nicole E. Clark | |
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Title:
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Vice President, Deputy General Counsel and Corporate Secretary | |
Exhibit 99.1
Andrew Gould Elected to Occidental Board of Directors
HOUSTON — January 2, 2020 — Occidental Petroleum Corporation (NYSE:OXY) announced today that Andrew Gould, former Chairman and Chief Executive Officer of Schlumberger Limited, has
been elected to its Board of Directors effective March 1, 2020.
Mr. Gould has more than 40 years of experience in the oil and gas industry. From 2003 to 2011, he served as Chairman and Chief Executive Officer of
Schlumberger, a leading oilfield services company. Mr. Gould began his career at Schlumberger in 1975 in its Internal Audit department, based in Paris.
“Andrew brings a valuable perspective to the Board through his extensive experience as a chief executive in the oil and gas industry,” said Gene L. Batchelder, Chairman
of the Board. “Throughout his long career, he drove significant value creation while managing a global business. Andrew’s knowledge and decades of operational and financial leadership in the industry will benefit the Board and add valuable insight
as Occidental continues to focus on generating returns for shareholders.”
Regarding his appointment to the Board, Mr. Gould stated, “I have long admired Occidental’s industry position and demonstrated ability to innovate. Its
advanced knowledge of using CO2 in enhanced oil recovery will be an important element in lowering the company’s total emissions. I am honored to join the Board during such an exciting time for the company as it leverages its operational
excellence to extract more value from a world-class portfolio of assets.”
In addition to his career at Schlumberger, Mr. Gould served as non-Executive Chairman of BG Group, a multinational oil and gas company, from 2012 until its sale to Royal
Dutch Shell in 2016. He served as interim Executive Chairman in 2014. He currently serves as a member of the Board of Directors of Saudi Aramco, a leading global energy company, and BJ Services, a private oilfield services company. Mr. Gould has
an undergraduate degree in Economic History from Cardiff University and qualified as a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.
About Occidental
Occidental is an international oil and gas exploration and production company
with operations in the United States, Middle East and Latin America. We are the leading producer and largest acreage holder in the Permian Basin. Occidental is advancing a lower-carbon future with our subsidiary Oxy Low Carbon Ventures, which
promotes innovative technologies that drive cost efficiencies and economically grow our business while reducing emissions. We also have a marketing and midstream business and WES Midstream, which includes Western Midstream Partners, LP. OxyChem,
our chemical subsidiary, is among the top three U.S. producers for the principal products it manufactures and markets. Occidental posts or provides links to important information on our website at oxy.com.
Contacts:
Media:
Melissa E. Schoeb
713-366-5615
melissa_schoeb@oxy.com
or
Investors:
Jeff Alvarez
713-215-7864
jeff_alvarez@oxy.com
On the web: oxy.com