In Q1'26, Occidental Petroleum (OXY) reported cash and short-term investments of $3.81B, marking a significant increase from the previous quarter's $1.99B and the highest level in the observed period. Meanwhile, debt stood at $0, a complete elimination from $22.40B in Q4'25, reflecting a transformative deleveraging event. Over the period from Q2'23 to Q1'26, cash and short-term investments exhibited strong overall growth, rising from $0.49B to $3.81B with notable accelerations in Q4'23 ($1.43B) and Q1'26, though showing volatility with dips in Q1'24 ($1.27B) and Q3'25 ($2.16B). Debt remained relatively stable around $20-21B through Q2'24 before spiking to $27.65B in Q3'24 and then steadily declining to zero by Q1'26, indicating improved liquidity and reduced financial leverage amid operational enhancements. This trend underscores OXY's strategic focus on balance sheet strengthening, potentially enhancing resilience in the energy sector.