Summary
Occidental Petroleum Corporation (OXY) filed an 8-K on October 3, 2017, to disclose the anticipated impacts of Hurricane Harvey on its business for the quarter ending September 30, 2017. The primary purpose of this filing is to furnish a press release that details these expected effects. Investors should note that this report primarily serves to incorporate by reference an external press release and does not contain independently filed financial statements or updated operational results beyond what is disclosed in that release. The company is providing advance information regarding a significant event that is likely to affect its financial performance for the period.
Key Highlights
- 1Occidental Petroleum disclosed anticipated impacts of Hurricane Harvey on its Q3 2017 results.
- 2The filing is primarily an announcement of the effects of a significant external event (Hurricane Harvey).
- 3A press release dated October 3, 2017, containing details of the impact, is furnished as an exhibit.
- 4The information is furnished, not filed, meaning it doesn't carry the same liabilities as formal SEC filings under Section 18 of the Exchange Act.
- 5This 8-K serves as a notice to investors regarding a material event affecting financial condition and results of operations for the upcoming reporting period.
- 6No new financial statements or audited results are presented in this 8-K itself, only reference to the press release.
Frequently Asked Questions
The main purpose of this 8-K filing is to inform investors about the anticipated impacts of Hurricane Harvey on Occidental Petroleum's financial results and operations for the quarter ending September 30, 2017. It incorporates a press release that details these expected effects.
This filing itself does not provide specific financial numbers or updated Q3 results. It refers investors to a furnished press release (Exhibit 99.1) which is expected to contain the details regarding the anticipated impacts of Hurricane Harvey.
The information contained in this report and the accompanying press release is furnished, not filed, under Section 18 of the Securities Exchange Act of 1934. This means it generally does not carry the same legal liabilities as information that is formally filed with the SEC, unless expressly incorporated by reference into another SEC filing.
'Anticipated impacts' refers to the estimated effects that Hurricane Harvey is expected to have on Occidental Petroleum's production, operational disruptions, and financial performance for the third quarter of 2017. The press release will elaborate on the nature and potential magnitude of these impacts.