Occidental Petroleum Corporation CEO Visits TPH

Casey ColelloLatest News

We were pleased to host OXY President & CEO Vicki Hollub for a firm wide visit as she approaches her first anniversary of taking the helm. While relatively new to the CEO chair, Ms. Hollub has participated in and led much of the company’s evolution in her more than 35 years with OXY. Vicki discussed the myriad challenges and opportunities faced by a chief executive managing one of the more complex and unique global portfolios of assets and operations in the business, a collection of upstream businesses in the US Lower-48 to the Middle East, OxyChem, and midstream and marketing units that handle both traditional products and CO2. From a financial perspective, Ms. Hollub’s primary challenge is balancing the objectives of yield and growth investor classes. She explained the importance of having both strong cash flow generating conventional assets (Middle East and legacy Permian Central Basin Platform) and unconventional upside (Permian shale). This mix is key to meeting the short- to medium-term goal of generating 5%-8% growth and protecting/enhancing the surety of a competitive dividend and paving the longer-term runway that ultimately creates the potential for sustained double digit growth in a higher oil price environment.

Maynard Holt, Vicki Hollub