Occidental Petroleum (NYSE: OXY) expected its acquisition of CrownRock to move the needle for investors. It delivered robust free cash flow during the third quarter, which allowed it to continue strengthening its balance sheet.

Occidental Petroleum raises guidance but remains limited by debt and high costs. See why OXY stock is still rated Underweight despite solid results.

The proceeds from the sales were used to help bring down Occidental's debt pile that has been fueled in part by a $12 billion purchase of shale producer CrownRock. Long-term debt at the end of the quarter was reduced to $25.46 billion, a fall of $4 billion ...

Occidental Petroleum reported its third-quarter results after Tuesday's closing bell. Here's a look at the key figures from the quarter.