Occidental is restructuring the company to unlock value. Actions include selling Middle East assets and spinning off its California business.
Occidental is increasing production rates and adding to reserves when other integrated energy companies are unable to do so. Focusing on a few core areas allows the firm to leverage assets and experience.
Higher oil prices and new technologies have opened up additional plays in the Permian Basin on Oxy's existing acreage. Read more
Oxy may lack the experience and skill necessary to effectively develop its existing unconventional acreage in California and the Permian.
Slow permitting and issues with gas processing facilities have slowed development in California. Those issues along with resource uncertainty could continue to slow growth.
There is growing opposition to unconventional drilling California. Legislation at the state level could result in increased costs, or worse, a ban on fracking, which could limit Oxy's potential there. Read more
Stephen Chazen succeeded Ray Irani as CEO in May 2011. Irani had served as chairman and CEO since 1990. Chazen previously served as president and COO and has been with Oxy since 1994; he has more than 30 years of industry experience. In May 2013, shareholders Read more
Occidental Petroleum is an energy company specializing in the exploration for and production of crude oil and natural gas through enhanced oil recovery, primarily in the Read more
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