Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 73

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 73
---
 IRA, and Pillar Two initiative, see Note 7 - Income Taxes in the Notes to Consolidated Condensed Financial Statements in Part I, Item 1 of this Form 10-Q.

LIQUIDITY AND CAPITAL RESOURCES

SOURCES AND USES OF CASH

As of September 30, 2025, Occidental's sources of liquidity included $2.2 billion of cash and cash equivalents and $4.15 billion of borrowing capacity under its RCF, which matures on June 30, 2028. Following the close of the OxyChem Transaction, which is anticipated to close in the fourth quarter of 2025, Occidental intends to use the majority of the after-tax proceeds of the sale to further reduce debt by approximately $6.5 billion. There were no borrowings outstanding on Occidental's RCF as of September 30, 2025.

33

Operating Cash Flows

Operating cash flow from continuing operations was $7.9 billion for the nine months ended September 30, 2025, compared to $8.2 billion for the nine months ended September 30, 2024. The decrease in operating cash flow from continuing operations, compared to the same period in 2024, was primarily due to higher income tax payments as certain tax payments related to 2024 were deferred into 2025 and higher interest payments due to the debt issued for the CrownRock Acquisition.

Investing Cash Flows

Occidental’s net cash used by investing activities was $4.0 billion for the nine months ended September 30, 2025, compared to $12.8 billion for the nine months ended September 30, 2024. Investing activities for the nine months ended September 30, 2025 included $2.2 billion in divestitures of non-core oil and gas assets, compared to $1.7 billion in divestitures of non-core oil and gas assets for the nine months ended September 30, 2024. See Note 5 - Acquisitions and Divestitures in the Notes to Consolidated Condensed Financial Statements in Part I, Item 1 of this Form 10-Q for additional information. 

Capital expenditures, of which the majority were for the oil and gas segment, were $5.7 billion for the nine months ended September 30, 2025, compared to $5.2 billion for the nine months ended September 30,