Debt ReductionThe sale of OxyChem accelerates debt reduction, reducing net debt/EBITDA by ~0.5x and opening the door for some opportunistic share buybacks in 2026.
Financial FlexibilityThe divestiture of OxyChem to Berkshire for ~$9.7bn unfetters the balance sheet, giving OXY financial flexibility to focus on its core Oil & Gas business.
Operational PerformanceOperational performance in the Permian basin is strong, and GoA volumes have the potential to increase due to minimal hurricane impacts.