Occidental Subsidiary Completes $631M Unit Redemption, Reducing Stake to 38.3%

summarizeSummary

Occidental Petroleum's subsidiary completed the redemption of 15.3 million common units from Western Midstream Partners, LP, reducing its stake to 38.3%.

check_boxKey Events

• Unit Redemption Completed

  Western Gas Resources, Inc., a subsidiary of Occidental Petroleum Corporation, transferred and surrendered 15,307,402 common units to Western Midstream Partners, LP on February 3, 2026.

• Significant Transaction Value

  The redemption is valued at approximately $631.7 million based on the current stock price.

• Reduced Ownership Stake

  Occidental Petroleum Corporation's beneficial ownership in Western Midstream Partners, LP has decreased to 38.3% of the outstanding common units.

• Follows Prior Disclosure

  This filing finalizes the unit redemption transaction that was previously disclosed on January 22, 2026.

auto_awesomeAnalysis

This Schedule 13D/A filing confirms the completion of the previously announced redemption of common units by Western Midstream Partners, LP from Western Gas Resources, Inc., a subsidiary of Occidental Petroleum Corporation. The transaction, valued at approximately $631.7 million, involved the surrender of 15,307,402 common units. This event reduces Occidental Petroleum's beneficial ownership in Western Midstream to 38.3% and decreases the total outstanding units, which is generally viewed as a positive for remaining unitholders as it increases their proportional ownership.