OREANDA-NEWS. June 19, 2014. Occidental Petroleum Corporation (NYSE: OXY) announced that its subsidiary, California Resources Corporation (CRC), has filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (SEC) in connection with Occidental’s previously announced plan to spin-off its California oil and gas business.

Following its spin-off from Occidental, CRC will be an independent oil and natural gas exploration and production company focused on high-growth, high-return conventional and unconventional assets exclusively in California.

The Form 10 contains preliminary information about the potential terms and conditions of a spin-off of CRC. It also includes information about CRC as a stand-alone company, covering financial, capital structure, business, risk factor and management and governance information. The Form 10 will be revised and updated in future amendments.

The Form 10 is available in the Investor Relations section on Occidental’s website, www.oxy.com.