Occidental CEO Vicki Hollub will retire on June 1, 2026, with COO Richard Jackson set to take over as President and CEO. The transition signals strategic continuity, with a continued focus on operational efficiency, asset optimization, and disciplined growth.
The ANTIETAM project exemplifies Occidental’s factory-style Permian development approach, built on standardized pad design, repeatable drilling execution, and centralized infrastructure. It reflects a high-density, single-zone Spraberry program focused on efficiency, predictable cadence, and scalable production.
Occidental (NYSE: OXY) today announced an oil discovery at the Bandit prospect in the Gulf of America, about 125 miles south of the Louisiana coast. The exploration well, located in Green Canyon Block 680, encountered high-quality, full-to-base oil-bearing Miocene sands.
Occidental Petroleum CEO Vicki Hollub is expected to step down later in 2026 after more than a decade leading the company, with COO Richard Jackson likely to succeed her. The transition marks the end of a transformative era defined by the Anadarko acquisition and could signal a shift toward greater operational discipline and shareholder-focused strategy.
Occidental Petroleum subsidiary 1PointFive expects its STRATOS direct air capture (DAC) facility in the Permian Basin, Texas, to begin initial operations in Q2 2026, with Phase 1 in the final stage of startup and Phase 2 commissioning beginning the same quarter. Once fully ramped, the project is designed to capture up to 500,000 metric tons of CO₂ per year, positioning STRATOS as one of the largest DAC facilities in the world.
Western Midstream Partners’ (NYSE: WES) newly announced restructuring of its Delaware Basin natural gas gathering agreements with Occidental Petroleum and ConocoPhillips is not simply a contract amendment. It is a clear example of how midstream infrastructure is being redesigned to support the next phase of Permian development.
By combining low-cost barrels, advanced recovery, carbon infrastructure, and digital execution, Occidental is positioning itself not just for 2026 — but for whatever energy market follows next.
Occidental Petroleum delivered a strong operational quarter, marked by improved production, higher efficiency, and results that exceeded guidance across multiple basins. Operational execution—not higher commodity prices—was the primary driver, as performance gains came from better well productivity, stronger base production, and improved uptime across both onshore and offshore assets.
The Texas Commission on Environmental Quality (TCEQ) has approved a Permit by Rule (PBR) for the Goldsmith Landreth Deep Gas Reinjection Station, a new CO₂ injection and recycling hub under Rule 106.352 (Oil and Gas Production Facilities). The facility, registered to Occidental Permian Ltd., represents a strategic addition to Occidental’s Ector County enhanced oil recovery (EOR) operations.
OXY USA has advanced a coordinated infrastructure program in Reagan County’s Spraberry Trend Area that connects new wells, gathering systems, and supporting facilities across its Merchant, Amerigo, and Marco Polo leases.
