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ACQUISITIONS AND DIVESTITURES | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
ACQUISITIONS AND DIVESTITURES |
NOTE 5 - ACQUISITIONS AND DIVESTITURES
CROWNROCK ACQUISITION In December 2023, Occidental entered into an agreement to purchase CrownRock for total consideration of $12.4 billion. The CrownRock Acquisition qualified as a business combination and was accounted for using the acquisition method of accounting. As of June 30, 2025, there were no material changes to the allocation presented in the 2024 Form 10-K and Occidental has finalized the purchase price allocation of the consideration. The following summarizes the unaudited pro forma condensed financial information of Occidental as if the CrownRock Acquisition had occurred on January 1, 2024:
|  | Three months ended June 30, 2024 | Six months ended June 30, 2024
millions, except per-share amounts |
Revenues |  | $ | 7,470 |  | $ | 14,057 |
Net income attributable to common stockholders |  | $ | 1,176 |  | $ | 1,974 |
Net income attributable to common stockholders per share—basic |  | $ | 1.27 |  | $ | 2.14 |
Net income attributable to common stockholders per share—diluted |  | $ | 1.18 |  | $ | 2.00 |
DIVESTITURES In the six months ended June 30, 2025, and through the date of this filing, Occidental sold non-core proved and unproved U.S. onshore oil and gas working interests for a total of approximately $730 million. In addition, in the first quarter of 2025, Occidental sold non-operated proved and unproved royalty and mineral interests in the DJ Basin for approximately $900 million. The difference in the assets' net book value and adjusted purchase price was treated as a normal retirement, and as a result no gain or loss was recognized. In July 2025, Occidental entered into an agreement to sell certain gas gathering assets in the Permian Basin for approximately $580 million. The agreement is subject to customary closing conditions and the receipt of regulatory approval, including the expiration or termination of the waiting period (and any extensions thereof) under the HSR Act.

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- Definition Description of significant business acquisitions (or series of individually immaterial business combinations or asset acquisitions) planned, initiated, or completed during the period, including background, timing, and allocation of acquisition costs. Includes description of significant business or asset dispositions completed during the period, including background, timing and disclosures for discontinued operations, if applicable. Also includes description of other applicable transactions. This element may be used as a single block of text to encapsulate all disclosures (including data and tables) regarding business combinations, asset acquisitions, business or asset dispositions, including leverage buyout transactions and other transactions. + References No definition available. + Details
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