Occidental Petroleum shuttles from Midland to Houston on rating upgrade day

Occidental Petroleum's Embraer ERJ-175, tail number N170XY, departed Midland International Air and Space Port at 9:32 p.m. UTC on May 11, 2026, touching down at Houston's George Bush Intercontinental Airport just over an hour later. The short hop covered 330 miles at altitudes up to 33,000 feet, peaking at nearly 500 knots ground speed—a routine jaunt for the company's employee shuttle between Permian Basin operations and corporate base.

The timing coincides with S&P Global Ratings revising Occidental Petroleum's outlook to positive from stable on May 11, citing accelerated debt reduction and stronger cash flows after the firm's first-quarter results showed $3.2 billion in net income, per the agency's report that afternoon. This upgrade, the latest in a string of favorable developments, follows the May 1 announcement of CEO Vicki Hollub's retirement effective June 1, with COO Richard Jackson stepping in, as detailed in Occidental's shareholder meeting disclosures.

Such shuttles underscore Occidental Petroleum's steady rhythm between Houston headquarters—home to Berkshire Hathaway's 28% stake, Warren Buffett's biggest energy wager—and the oil-rich Permian, where recent flights reveal a pattern of back-and-forth since early May, likely ferrying staff amid earnings reviews and leadership shifts.