Occidental Subsidiary Completes $631M Unit Redemption, Reducing Stake to 38.3%
Summary
Occidental Petroleum's subsidiary completed the redemption of 15.3 million common units from Western Midstream Partners, LP, reducing its stake to 38.3%.
Key Events
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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.
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Significant Transaction Value
The redemption is valued at approximately $631.7 million based on the current stock price.
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Reduced Ownership Stake
Occidental Petroleum Corporation's beneficial ownership in Western Midstream Partners, LP has decreased to 38.3% of the outstanding common units.
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Follows Prior Disclosure
This filing finalizes the unit redemption transaction that was previously disclosed on January 22, 2026.
Analysis
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.
At the time of this filing, WES was trading at $41.26 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $16.8B. The 52-week trading range was $33.60 to $42.80. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.