Occidental said that increased cash flow, along with proceeds from a new $4.5B-$6B divestiture program, will enable Occidental to reduce its debt principal by at least $4.5B within 12 months and expect to retain its investment grade credit ratings.
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Read More on OXY:
- Occidental to Acquire CrownRock, Strengthening its U.S. Onshore Portfolio with Premier Permian Basin Assets
- Occidental Petroleum price target lowered to $73 from $78 at JPMorgan
- Occidental Petroleum in talks to buy CrownRock, WSJ reports
- Occidental Petroleum in talks to buy privately-held CrownRock, Bloomberg says
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