Occidental Petroleum stock sets new debt target after Q3 milestone

Published on 11/12/2026 at 16:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Occidental Petroleum stock enters a new balance-sheet phase after management set a 6-billion-US-dollar debt target. Fourth-quarter output is expected to recover.

Debt Targets And Production Outlook

Management established a new 6-billion-US-dollar principal-debt milestone after reaching 10 billion US dollars.
Fourth-quarter production is expected at 1.43 million to 1.47 million barrels of oil equivalent per day.
Management sees 700 million to 800 million US dollars of sustainable cash-flow improvement in 2027.

Occidental Petroleum, US6745991058, Illustration mit AI erstellt.

Occidental Petroleum reached its 10-billion-US-dollar principal-debt milestone in the third quarter, but management has already set the next balance-sheet target. The company also expects fourth-quarter production to recover from temporary Gulf of America disruptions.

Occidental announced the third-quarter results on Monday, November 9. Its official release reported 1.6 billion US dollars of net income attributable to common stockholders, adjusted earnings of 1.91 US dollars per diluted share and global production of 1,427 thousand barrels of oil equivalent per day.

Management Sets The Next Debt Target

Chief financial officer Sunil Mathew established a new principal-debt milestone of 6 billion US dollars after Occidental repaid 1.8 billion US dollars during the quarter. Year-to-date repayments reached 10.4 billion US dollars, while unrestricted cash stood at 3.9 billion US dollars at quarter-end.

Zacks Equity Research reported that the new target is intended to support a debt-to-EBITDA ratio of about one at 50 US dollars per barrel West Texas Intermediate crude. Management also outlined approximately 5.9 billion US dollars of starting capital spending for 2027 and projected 700 million to 800 million US dollars of sustainable annual cash-flow improvement versus 2026.

Production Outlook Improves

Third-quarter production exceeded the midpoint of guidance as Permian and Rockies operations offset temporary Gulf constraints. Management guided fourth-quarter output to 1.43 million to 1.47 million barrels of oil equivalent per day and expects broadly flat production in 2027.

Occidental Petroleum stock traded at 52.25 euros on Lang & Schwarz at 16:34 CET on Thursday, November 12.