Oil & Gas
OXY'S NEW CEO TO FOCUS ON DEBT REDUCTION, EXECUTION AFTER TURBULENT HOLLUB ERA
BullishOil & Gas
Occidental Petroleum's new CEO Richard Jackson is signaling a shift towards operational execution and balance sheet repair following the volatile tenure of Vicki Hollub. The company has reduced its principal debt to $11.8bn, down from a peak of $39bn after the contentious $55bn Anadarko acquisition in 2019. With free cash flow projected to top $10bn in 2026 and production at a record 1.4mn boe/d, the focus is on sustainable shareholder returns.
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