• Occidental Petroleum first-quarter 2026 earnings call featured President and CEO Vicki Hollub, CFO Sunil Mathew, COO Richard Jackson, SVP and President of International Oil and Gas Operations Kenneth Dillon, and VP of Investor Relations Babatunde Cole.
• Hollub confirmed she will retire June 1, with Jackson set to become president and CEO, while both will serve on board.
• Mathew reported adjusted earnings of USD 1.06 per diluted share, free cash flow before working capital of about USD 1.7 billion, and principal debt reduced to USD 13.3 billion, with near-term priority to reach USD 10 billion.
• Production averaged 1,426,000 BOE/day, above guidance, while full-year production guidance midpoint moved to 1,440,000 BOE/day due to Middle East disruptions and EOR portfolio actions; full-year capital guidance held at USD 5.5 billion to USD 5.9 billion.
• Management raised full-year Midstream guidance midpoint to USD 1.1 billion, disclosed 100,000 bpd of oil hedges for March-December 2026 via costless collars with USD 55 WTI floor and about USD 76 WTI ceiling, and flagged a non-process equipment issue at STRATOS with no expected change to annual capital range.

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