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.
Interest Expense SavingsManagement plans to allocate $6.5 B of the proceeds towards immediate debt reduction, which will lower annual interest expenses by more than $350 MM.