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Occidental Petroleum Issues Statement Regarding Icahn Filing


HOUSTON–(BUSINESS WIRE)–Occidental Petroleum Corporation (“Occidental” or “the Company”) (NYSE: OXY) today issued the following statement in response to the materials filed by Carl Icahn:

We maintain an open dialogue with all our shareholders and welcome constructive input toward our shared goal of maximizing long-term value. Our Board is committed to acting in the best interests of Occidental shareholders and will continue to take actions to drive value on their behalf.

We remain focused on completing our transaction with Anadarko in the second half of 2019, which we believe will create significant value and enhanced returns for shareholders.

We will review the latest materials filed by Mr. Icahn and look forward to addressing them in our ongoing conversations with Occidental shareholders.

BofA Merrill Lynch, Citi and M Klein and Company are acting as Occidental’s financial advisors. Cravath, Swaine & Moore LLP is serving as legal counsel.

About Occidental

Occidental is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment purchases, markets, gathers, processes, transports and stores hydrocarbons and other commodities. The company’s wholly owned subsidiary OxyChem manufactures and markets basic chemicals and vinyls. Occidental posts or provides links to important information on its website at oxy.com.



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