8-KRegulation FDExhibits & Filings

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Regulation FD Disclosure (Jun 5, 2014)

Filed June 5, 2014For Securities:OXYOXY-WT

Summary

Occidental Petroleum Corporation (OXY) has filed a Form 8-K on June 5, 2014, to disclose the filing of a registration statement on Form 10 by its subsidiary, California Resources Corporation (CRC). This filing is a crucial step towards the previously announced spin-off of OXY's California oil and gas business into a new, publicly traded entity. Investors should note that the registration statement has not yet been declared effective by the SEC and remains subject to completion, meaning the spin-off is still in progress.

Key Highlights

  • 1OXY's subsidiary, California Resources Corporation (CRC), filed a registration statement on Form 10 with the SEC.
  • 2This filing is in preparation for the previously announced spin-off of OXY's California oil and gas business.
  • 3The spin-off is intended to create a standalone, publicly traded company for the California operations.
  • 4The Form 10 registration statement has not yet been declared effective by the SEC.
  • 5The registration statement is subject to completion, indicating the spin-off process is ongoing.
  • 6A press release dated June 5, 2014, regarding the Form 10 filing is included as an exhibit.

Frequently Asked Questions

The main purpose of this Form 8-K filing is to inform investors that Occidental Petroleum Corporation's subsidiary, California Resources Corporation (CRC), has filed a registration statement on Form 10. This is a significant step in the process of spinning off OXY's California oil and gas business into a separate, publicly traded company.

No, the spin-off has not been completed. The filing of the Form 10 registration statement is a prerequisite, and it has not yet been declared effective by the SEC and is still subject to completion. This indicates the process is ongoing.

California Resources Corporation (CRC) is a subsidiary of Occidental Petroleum Corporation that holds the company's California oil and gas business. It is being established as a standalone entity through the planned spin-off.

Further information can be found in the press release dated June 5, 2014, which is furnished as Exhibit 99.1 to this Form 8-K filing. The registration statement on Form 10, once declared effective, will also contain detailed information.