Occidental Petroleum lands in Midland the week of CEO succession and Permian dealmaking

Occidental Petroleum flew its Embraer ERJ-175, tail N170XY, from Houston’s Bush Intercontinental to Midland International Air and Space Port on May 21, a 74-minute hop into the heart of the Permian Basin. The aircraft, typically used as an employee shuttle, arrived just after 8 a.m. local time.

The same week, Occidental is navigating a leadership transition: Vicki Hollub informed the board of her retirement on April 30, effective June 1, with Richard A. Jackson set to take over as president and CEO, per a May 1 SEC filing. The trip also comes as Occidental considers buying CrownRock LP in a deal valued above $10 billion, with its corporate jet having visited Warren Buffett’s Omaha twice this month, as reported by Oil & Gas 360. Meanwhile, a drone strike in the UAE has shut down Occidental’s 40%-owned Shah gas project, per the Houston Business Journal, adding urgency to domestic asset moves.

Occidental’s fleet has been active in the Permian corridor this week: the same ERJ-175 flew from Midland to Houston on May 19, and another aircraft shuttled between Carlsbad and Midland the same day. The Midland base remains a operational hub for the company’s shale operations, making this a routine but consequential visit during a pivotal month.