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Occidental - preparing for radical change

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Report summary

Oxy is preparing to spin-off its Californian business by the end of 2014, sell down its remaining stake in the Plains All American Pipeline and looking to materially reduce its exposure to the Middle East. Key drivers include the potential to refresh growth options, align capital allocation with portfolio potential, and the capture of higher market premiums for the separated entities.

What's included

This report contains

  • Document

    Occidental - preparing for radical change

    PDF 357.76 KB

Table of contents

  • Occidental's restructuring is on-track, but requires catalysts to maintain momentum
    • North America
    • Middle East / North Africa (MENA)
    • South America
    • Midstream and Petrochemicals
  • California Resources Corporation
  • Occidental Corporate coverage
  • Appendix 1: 'New Look' Oxy
  • Appendix 2: California Resources Corporation

Tables and charts

This report includes 13 images and tables including:

Tables

  • North American Asset Summary Table
  • MENA Asset Summary Table
  • Latin America Asset Summary Table
  • CRC Asset Summary Table
  • Base price assumptions (nominal terms)

Images

  • Market performance post Oxy announcement
  • 5-yr Total Shareholder Return (TSR) vs. 1-yr TSR
  • CRC production outlook
  • Benchmark: 3-yr prod. CAGR and cashflow/boe
  • Production outlook: Oxy ex CRC
  • Benchmark: 3-yr prod. CAGR and cashflow/boe
  • Base price assumptions (nominal terms)
  • Base, high and low WTI (nominal terms)

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