Occidental Petroleum shuttles to Midland as Permian portfolio shifts

Occidental Petroleum flew from Cavern City Air Terminal in Carlsbad, New Mexico, to Midland International Air and Space Port on June 18, a 44-minute hop across the Permian Basin. The Embraer ERJ-175, tail N170XY, is part of the company’s three-aircraft fleet and frequently shuttles employees between Houston and West Texas operating hubs.

The same week, Occidental Petroleum continued its strategy of divesting mature, non-core Permian assets, with a review of Texas air permits showing a transfer of properties to Hilcorp Energy, as reported by OilGasLeads.com. The company is concentrating capital on higher-return development areas in the Permian, Rockies, and Gulf of America, while new CEO Richard Jackson, who took over on June 1, oversees the deleveraging push that has reduced principal debt to $13.3 billion.

The flight pattern—multiple trips between Midland, Carlsbad, and Houston in recent days—reflects the operational rhythm of a company that, per FXLeaders, remains up 31% year-to-date despite a recent oil-price dip from the US-Iran ceasefire. For Occidental Petroleum, the shuttle is less about spectacle and more about the steady work of running a basin.