Occidental Petroleum consummated the acquisition of CrownRock, L.P. on August 1, 2024 for total consideration of approximately $12.4 billion, consisting of approximately $9.4 billion in cash consideration, approximately 29.6 million shares of common stock, and the assumption of $1.2 billion in existing debt.

1. 01

   Occidental Petroleum consummated the acquisition of CrownRock, L.P. on August 1, 2024 for total consideration of approximately $12.4 billion, consisting of approximately $9.4 billion in cash consideration, approximately 29.6 million shares of common stock, and the assumption of $1.2 billion in existing debt.

2. 02

   The company said it issued approximately $9.7 billion in aggregate principal amount of new debt concurrent with the acquisition closing, and the acquisition accounting adjustments reflected in interest and debt expense, net, based on a weighted average annual interest rate of 6.22%, were 330 million.

3. 03

   Occidental's pro forma combined net sales for 2024 were 28,184 million (compared with 26,725 million for Occidental alone), and income from continuing operations was 3,114 million (compared with 2,896 million for Occidental alone), assuming the acquisition was completed on January 1, 2024.

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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

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