Form 4: Occidental Petroleum Subsidiaries Sell 19.5 Million Western Midstream Units in Public Offering

Subsidiaries of Occidental Petroleum sold 19.5 million common units of Western Midstream Partners, LP at $35.75 per unit in a public offering.

Summary

• On August 14, 2024, WGR Asset Holding Company LLC and Anadarko USH1 Corporation, both subsidiaries of Occidental Petroleum, sold a combined 19.5 million common units of Western Midstream Partners, LP in an underwritten public offering.
• The sale price was $35.75 per common unit.
• WGR Asset Holding Company LLC sold 14,139,260 common units, while Anadarko USH1 Corporation sold 5,360,740 common units.
• Following the transaction, Western Gas Resources, Inc. holds 156,219,520 Common Units, APC Midstream Holdings, LLC holds 457,849 Common Units and AUSHI holds 9,004,209 Common Units.
• Western Gas Resources, Inc. is the sole member of Western Midstream Holdings, LLC, the 2% economic general partner of the Issuer.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a transaction without expressing positive or negative views. It's a standard SEC filing related to a sale of assets.

Industry Context

This transaction reflects ongoing portfolio management and capital allocation decisions within the energy sector, as Occidental Petroleum adjusts its holdings in Western Midstream Partners.

Stakeholder Impact

• The sale could impact Western Midstream Partners' stock price and investor sentiment.
• The transaction may influence the relationship between Occidental Petroleum and Western Midstream Partners.

Key Dates