<SEC-DOCUMENT>0000797468-23-000067.txt : 20230621
<SEC-HEADER>0000797468-23-000067.hdr.sgml : 20230620
<ACCEPTANCE-DATETIME>20230620184120
ACCESSION NUMBER:		0000797468-23-000067
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230608
FILED AS OF DATE:		20230620
DATE AS OF CHANGE:		20230620

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			OXY USA INC
		CENTRAL INDEX KEY:			0000728399
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40503
		FILM NUMBER:		231026904

	BUSINESS ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA
		STREET 2:		SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		(713) 215-7000

	MAIL ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA
		STREET 2:		SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046

	FORMER NAME:	
		FORMER CONFORMED NAME:	OXY OIL & GAS USA INC/DE
		DATE OF NAME CHANGE:	19920717

	FORMER NAME:	
		FORMER CONFORMED NAME:	CITIES SERVICE CO/DE
		DATE OF NAME CHANGE:	19600201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			OCCIDENTAL PETROLEUM CORP /DE/
		CENTRAL INDEX KEY:			0000797468
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40503
		FILM NUMBER:		231026905

	BUSINESS ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA
		STREET 2:		SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		7132157000

	MAIL ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA
		STREET 2:		SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Oxy Low Carbon Ventures, LLC
		CENTRAL INDEX KEY:			0001982098
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40503
		FILM NUMBER:		231026903

	BUSINESS ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA, SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		713-215-7000

	MAIL ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA, SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			OLCV Net Power, LLC
		CENTRAL INDEX KEY:			0001982097
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40503
		FILM NUMBER:		231026902

	BUSINESS ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA, SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		713-215-7000

	MAIL ADDRESS:	
		STREET 1:		5 GREENWAY PLAZA, SUITE 110
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NET Power Inc.
		CENTRAL INDEX KEY:			0001845437
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		404 HUNT STREET, SUITE 410
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27701
		BUSINESS PHONE:		(919) 287-4750

	MAIL ADDRESS:	
		STREET 1:		404 HUNT STREET, SUITE 410
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rice Acquisition Corp. II
		DATE OF NAME CHANGE:	20210210
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wk-form3_1687300868.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2023-06-08</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001845437</issuerCik>
        <issuerName>NET Power Inc.</issuerName>
        <issuerTradingSymbol>NPWR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000797468</rptOwnerCik>
            <rptOwnerName>OCCIDENTAL PETROLEUM CORP /DE/</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5 GREENWAY PLAZA SUITE 110</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77046</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000728399</rptOwnerCik>
            <rptOwnerName>OXY USA INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5 GREENWAY PLAZA SUITE 110</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77046</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001982098</rptOwnerCik>
            <rptOwnerName>Oxy Low Carbon Ventures, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5 GREENWAY PLAZA SUITE 110</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77046</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001982097</rptOwnerCik>
            <rptOwnerName>OLCV Net Power, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5 GREENWAY PLAZA SUITE 110</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77046</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A common stock, par value $0.0001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>33999995</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B common stock, par value $0.0001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>55553247</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Class A units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A common stock, par value $0.0001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>55553247</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">OLCV Net Power, LLC (&quot;OLCV Net Power&quot;) is the owner of record of such shares. OLCV Net Power is a direct, wholly owned subsidiary of Oxy Low Carbon Ventures, LLC (&quot;OLCV&quot;). OLCV is a direct, wholly owned subsidiary of OXY USA Inc. (&quot;OXY USA&quot;). OXY USA is a direct, wholly owned subsidiary of Occidental Petroleum Corporation (&quot;Occidental,&quot; and collectively, the &quot;Reporting Persons&quot;). OLCV, OXY USA and Occidental, as a result of such relationships, may be deemed to indirectly beneficially own the shares of Class A Common Stock and Class B Common Stock (each as defined below) owned of record by OLCV Net Power and the Opco Units (as defined below).</footnote>
        <footnote id="F2">OLCV Net Power owns 55,553,247 Class A units (&quot;Opco Units&quot;) of NET Power Operations LLC (&quot;Opco&quot;), in which the Issuer is the sole managing member and whose equity interests are the Issuer's only asset, and an equivalent number of shares of Class B common stock, par value $0.0001 per share (the &quot;Class B Common Stock&quot;). Pursuant to the limited liability company agreement of Opco, at the request of the holder, each Opco Unit may be redeemed at any time for, at the Issuer's election, a newly issued share of Class A common stock, par value $0.0001 per share (the &quot;Class A Common Stock&quot;), or cash, and upon redemption of such Opco Unit, a share of Class B Common Stock shall be surrendered by the holder and canceled by the Issuer. For more information, see the Reporting Persons' Schedule 13D filed with the Securities and Exchange Commission on June 20, 2023 (the &quot;Schedule 13D&quot;).</footnote>
    </footnotes>

    <remarks>OLCV Net Power directly acquired (and, through the relationships described in footnote 1, the other Reporting Persons indirectly acquired) beneficial ownership of the securities reported herein in the Issuer's business combination and substantially concurrent PIPE financing. For more information, see the Schedule 13D. Each of the Reporting Persons disclaims beneficial ownership in such securities, except to the extent of its pecuniary interest therein. Each of the Reporting Persons may be deemed a director by deputization, by virtue of their director designees on the board of directors of the Issuer as described in the Schedule 13D.</remarks>

    <ownerSignature>
        <signatureName>/s/ Nicole E. Clark, as Vice President and Secretary of OLCV Net Power, LLC</signatureName>
        <signatureDate>2023-06-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Nicole E. Clark, as Vice President and Secretary of Oxy Low Carbon Ventures, LLC</signatureName>
        <signatureDate>2023-06-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Nicole E. Clark, as Vice President and Secretary of OXY USA Inc.</signatureName>
        <signatureDate>2023-06-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Nicole E. Clark, as Vice President, Corporate Secretary and Chief Compliance Officer of Occidental Petroleum Corporation</signatureName>
        <signatureDate>2023-06-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
