OXY · News · 20260806N
Liquidity and Debt Position
OCCIDENTAL PETROLEUM CORP /DE/ · 2026-08-06 · Importance 46 · Surprise 42 · In source text
Occidental generated approximately $3 billion of second-quarter free cash flow. The company used $1.9 billion of that cash flow to retire debt, reducing principal debt to $11.8 billion. Debt reduction remains the primary balance-sheet objective before the planned 2029 redemption of Berkshire Hathaway's preferred equity stake. The debt repayment materially strengthened liquidity following the quarter's oil-driven cash generation.
Key facts
- The company used $3 billion in free cash flow to retire $1.9 billion in debt, bringing its principal down to $11.8 billion. source
- Occidental said it plans to use increased free cash flow to strengthen its balance sheet before redeeming Berkshire Hathaway's preferred equity stake in 2029. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | — | The company used $3 billion in free cash flow to retire $1.9 billion in debt, bringing its principal down to $11.8 billion. |
| liability | positive | realized | — | The company used $3 billion in free cash flow to retire $1.9 billion in debt, bringing its principal down to $11.8 billion. |
| cash | negative | probable | — | Occidental said it plans to use increased free cash flow to strengthen its balance sheet before redeeming Berkshire Hathaway's preferred… |