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ACQUISITIONS AND DIVESTITURES (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Purchase Consideration The following table summarizes the cash and common stock components of the purchase price:
in millions of dollars and sharesTotal
Cash portion of purchase price
$9,100 
Closing Adjustments
Net Working Capital and Other Purchase Price Adjustments 257 
Pre-closing dividends declared by Occidental$13 
Total Cash Purchase Price$9,370
Total shares of Occidental common stock issued
29.6 
Occidental common stock share price
$59.38 
Stock portion of purchase price
$1,755
Total purchase price
$11,125
Schedule of Preliminary Purchase Price Allocation
The following table sets forth the preliminary allocation of the acquisition consideration. Certain data necessary to complete the purchase price allocation is not yet available, and includes, but is not limited to, final appraisals of assets acquired and liabilities assumed. Occidental will finalize the purchase price allocation during the 12-month period following the acquisition date, during which time the value of the assets and liabilities may be revised as appropriate.

in millions
August 1, 2024
Fair value of assets acquired:
Cash and cash equivalents$581 
Trade receivables, net244 
Other current assets8 
Property, plant and equipment, Oil and gas11,825 
Amount attributable to assets acquired$12,658
Fair value of liabilities acquired:
Current maturities of long-term debt$868 
Accounts payable130 
Accrued liabilities111 
Long-term debt376 
Asset retirement obligations48 
Amount attributable to liabilities acquired$1,533
Fair value of net assets acquired:$11,125