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Occidental Petroleum Corp. (Oxy), which is preparing to spin off California operations and relocate worldwide headquarters to Houston, has appointed Todd A. Stevens, 47, as president and CEO for California Resources Corp. (CRC). William E. Albrecht, 62, was named executive chairman for the independent producer, which plans to focus exclusively on California exploration. Stevens is a 19-year veteran of Oxy, having served as vice president of corporate development since August 2012. Albrecht, who has been responsible for Oxy's oil and gas operations in North and South America, has been president of the Oil and Gas-Americas unit since 2011. Oxy filed spin-off plans with the Securities and Exchange Commission in June (see Daily GPIJune 6). Once completed, CRC would hold 2.3 million net acres, 8,655 producing wells and about 15,185 additional net drilling sites in California.

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