Summer 2026
Oil and gas operations and renewables
$21 - $25/hr
Midland, TX, USA + 4 more
More locations: Houston, TX, USA | Fort Lupton, CO, USA | Morton, TX, USA | Denver, CO, USA
Hybrid
Remote from home may be required; role bases at TX/CO locations and requires travel to various sites.
Occidental Petroleum Corporation (Oxy) is a global energy company that produces and sells oil and gas, while also pursuing revenue from carbon management and renewable energy projects. It operates by extracting hydrocarbons and delivering energy to industrial, commercial, and government customers, using technology to reduce costs and improve efficiency. Oxy differentiates itself through a strong focus on ESG metrics, low operating costs, and selective investments in renewables such as solar assets and carbon management initiatives. Its goals are to achieve net zero emissions from its operations by 2040 and net zero emissions from the use of its products by 2050.
Company Size
10,001+
Company Stage
IPO
Headquarters
Houston, Texas
Founded
1920
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Occidental Petroleum has announced CEO Vicki Hollub's retirement, with Richard Jackson taking over as the company shifts focus towards carbon management and balance sheet transformation. The leadership change follows the sale of OxyChem, refocusing the firm on core energy and low-carbon businesses. The transition comes as Occidental emphasises carbon management alongside financial discipline. At $62.97, shares trade roughly 3% above the $60.88 analyst target, though analysts suggest they remain 45.5% below estimated fair value. Key investor considerations include capital allocation following the OxyChem sale and spending balance between low-carbon projects and traditional oil and gas. The company carries high debt levels, with profit margins declining from 9.8% to 6.3%, making Jackson's execution on leverage and profitability crucial.
Occidental Petroleum has raised $120 million in a Series C round led by Ribbit Capital, valuing the company at $1.45 billion. Sequoia and Kleiner Perkins participated, with Emerson Collective joining as a new backer. The pre-revenue company is developing "Mathematical Superintelligence", an AI system focused on advanced reasoning that claims to eliminate hallucinations by requiring outputs in Lean4 programming language, which can be verified for correctness. Its flagship model, Aristotle, achieved top-level performance at the International Mathematical Olympiad in July. Founded in 2023, Harmonic has now raised $295 million across three funding rounds in 14 months. The company currently offers Aristotle via a free API and plans to commercialise in safety-critical industries like aerospace and finance.
Occidental Petroleum reported fourth-quarter 2025 earnings of 31 cents per share, beating the Zacks Consensus Estimate of 19 cents by 63.2%, though down 61.3% year over year. Total revenues of $5.42 billion missed estimates by 7.8% and declined 5.2% year over year. Total production volume was 1,481 thousand barrels of oil equivalent per day, exceeding the company's guided range. Shares have risen 15.6% since the last earnings report, outperforming the S&P 500. Occidental strengthened its balance sheet by completing the OxyChem sale on 2 January 2026, reducing debt by $5.8 billion and bringing principal debt to $15 billion. Strong fourth-quarter production was driven by robust contributions from Permian assets, with Gulf of America volumes up 5.1% year over year.
Occidental Petroleum has completed a heavily subscribed cash tender offer, increasing its purchase cap from $700 million to $1.20 billion for several series of senior notes and debentures. The company paired the enlarged tender with consent solicitations that removed covenants and shortened redemption notice on its 6.125% 2031 Notes. The move represents a step towards simplifying Occidental's debt structure and increasing financial flexibility. The company recently raised its quarterly dividend to $0.26 per share, demonstrating how management is allocating cash between shareholders and creditors. Whilst the debt tender and covenant changes appear incremental rather than transformative, investors should monitor oil price volatility and leverage risks. Analysts project mixed outlooks, with some forecasting revenue declining to around $26.2 billion by 2028.
Occidental Petroleum rose 18.07% to $53.68 over the past year, outperforming despite falling oil prices. The company beat earnings estimates every quarter in 2025, with Q3 delivering a 29.90% EPS beat at $0.64 against consensus of $0.49. The transformative development was Occidental's sale of OxyChem to Berkshire Hathaway for $5.8 billion, which closed in January 2026 and enabled significant debt reduction to $15 billion. Full-year 2025 EPS reached $2.21 on revenue of $22.4 billion. Shares recently surged 6% on US-Iran tensions and Strait of Hormuz supply concerns. However, the consensus analyst target price of $51.88 suggests the stock is slightly overvalued at current levels, with 16 Hold, six Buy and four Sell ratings.