Occidental Petroleum flies to Carlsbad the week it sheds non-core Permian assets to Hilcorp

Occidental Petroleum flew from Midland International Air and Space Port to Cavern City Air Terminal on June 17, 2026, a 21-minute hop aboard its Embraer ERJ-175 (tail N170XY). The aircraft landed just after 8:05 a.m. local time.

The same week, Occidental Petroleum is executing a strategy of shedding mature, non-core Permian Basin assets to privately held Hilcorp Energy, according to a review of transferred Texas air permits by Oil & Gas Leads. The divestiture, which includes properties in Hockley, Gaines, and Ector counties, aligns with Occidental Petroleum's publicly stated plan to concentrate capital on its highest-return development areas following the CrownRock acquisition. CEO Vicki Hollub, who announced her retirement effective June 1, has framed the portfolio optimization as part of a broader strategic transformation.

The flight follows a pattern of heavy shuttle traffic between Occidental Petroleum's Houston headquarters and the Permian Basin: the ERJ-175 made three trips between KIAH and KMAF in the past two days alone. The short leg to Carlsbad suggests a site visit to assets being repositioned or evaluated, consistent with a company that, per its Q1 2026 earnings call, is concentrating working interest where optimization opportunities lie.