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Occidental Petroleum Corp.
Ticker Symbol: OXY CUSIP: 674599105 Exchange: NYSE
Dec. 1, 2014 -- Occidental Petroleum Corporation (NYSE:OXY) today announced it has completed the spin-off of its subsidiary California Resources Corporation (NYSE:CRC). California Resources, which begins regular way trading today on the NYSE as a stand-alone company, is an independent oil and natural gas exploration and production company focused on high-growth, high-return conventional and unconventional assets exclusively in California. To effect the spin-off, the companies were separated on November 30, 2014, through the distribution of approximately 80.5 percent of the outstanding shares of California Resources to holders of Occidental common stock. Each Occidental shareholder received 0.4 shares of California Resources common stock for every one share of Occidental common stock held at the close of business November 17, 2014, the record date for the distribution, for a total of approximately 310 million shares. Occidental retained 71.5 million shares of the California company. _______________ Oct. 2, 2014 -- Occidental Petroleum Corporation (NYSE: OXY) announced today that its Board of Directors has approved the spin-off of its California oil and gas business into an independent and separately traded company, California Resources Corp. The companies will be separated through the distribution of approximately 80.1 percent of the outstanding shares of California Resources to holders of Occidental common stock. Subject to the satisfaction of the conditions to the spin-off, the distribution is expected to occur on Dec 1, 2014. Occidental shareholders will receive 0.4 shares of California Resources common stock for every one share of Occidental common stock held at the close of business November 17, 2014, the record date. Following the distribution of California Resources common stock, California Resources will be an independent, publicly traded company, and Occidental will retain approximately 19.9 percent ownership interest in California Resources for a period of up to 18 months.
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Company's Online Profile
BUSINESS: Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston. Occidental's midstream and marketing segment purchases, markets, gathers, processes, transports and stores hydrocarbons and other commodities. Occidental's wholly owned subsidiary, OxyChem, is a major North American chemical manufacturer.
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Find All Related Securities for OXY
Large Cap Stock -
Market Value $53.7 Billion
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 5 Greenway Plaza, Suite 110, Houston, TX 77046 |
| Main Phone Number |
713-215-7000 |
| Fax Number |
Not Available |
| Investor Relations
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713-552-8811
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| CEO - Vicki Hollub |
CFO - Robert L. Peterson |
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