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Occidental Petroleum logoOccidental Petroleum OXY

Occidental said it completed the acquisition of 100% of the issued and outstanding partner interests in CrownRock, L.P. on August 1, 2024. The deal was carried out under the Partnership Interest Purchase Agreement dated December 10, 2023.

8-KOther EventsFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Occidental said it completed the acquisition of 100% of the issued and outstanding partner interests in CrownRock, L.P. on August 1, 2024. The deal was carried out under the Partnership Interest Purchase Agreement dated December 10, 2023.

  2. The company said its 8-K filed on July 19, 2024 contained historical financial information and pro forma financial information for CrownRock. It said this 8-K is intended to provide updated CrownRock financial information and updated pro forma financial information through June 30, 2024.

  3. The company said it filed as Exhibit 99.1 the unaudited condensed consolidated financial statements of CrownRock as of June 30, 2024 and for the 6 months then ended, including the income statement, balance sheet, statement of partners' capital, cash flow statement and notes.

  4. The company said it filed as Exhibit 99.2 unaudited pro forma financial statements combining Occidental Petroleum's and CrownRock's financial statements. They include a pro forma balance sheet as of June 30, 2024 and a pro forma combined statement of operations for the year ended 2023 and the 6 months ended 2024.

Summary

AI-written

Analysis scope · Filing body only (exhibits excluded)We analyzed the filing body only. The exhibits exceeded the length limit and were excluded, so figures, financial statements and presentation materials in them were not reviewed.

Occidental Completes CrownRock Acquisition

Occidental said it completed the acquisition of 100% of the issued and outstanding partner interests in CrownRock, L.P. on August 1, 2024. The deal was carried out under the Partnership Interest Purchase Agreement dated December 10, 2023.

Source · Based on the filing body (exhibits excluded)

Purpose of This 8-K Filing

The company said its 8-K filed on July 19, 2024 contained historical financial information and pro forma financial information for CrownRock. It said this 8-K is intended to provide updated CrownRock financial information and updated pro forma financial information through June 30, 2024.

Source · Based on the filing body (exhibits excluded)

CrownRock Financial Statement Contents

The company said it filed as Exhibit 99.1 the unaudited condensed consolidated financial statements of CrownRock as of June 30, 2024 and for the 6 months then ended, including the income statement, balance sheet, statement of partners' capital, cash flow statement and notes.

Source · Based on the filing body (exhibits excluded)

Pro Forma Financial Statement Contents

The company said it filed as Exhibit 99.2 unaudited pro forma financial statements combining Occidental Petroleum's and CrownRock's financial statements. They include a pro forma balance sheet as of June 30, 2024 and a pro forma combined statement of operations for the year ended 2023 and the 6 months ended 2024.

Source · Based on the filing body (exhibits excluded)

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.