NYSE:OXYOil and Gas
Occidental Petroleum Debt Moves Put Focus On Valuation And Momentum
Occidental Petroleum (NYSE:OXY) expanded its cash tender offer for outstanding debt from US$700 million to US$1.2b.
The company made the change after strong investor participation in the offer.
Occidental also secured bondholder approval to amend covenants on a portion of its notes.
The tender and covenant changes are part of a broader focus on debt reduction and balance sheet management.
Occidental Petroleum, a large US oil and gas producer, sits at the intersection of traditional energy...