When Occidental Petroleum (OXY -0.57%) spins off its California oil and gas assets into its own company later this year, it will remove a very large part of the company's production base. If you are an investor in Occidental, you don't need to worry about this too much. Not only does Occidental have some pretty solid assets to work from once California is let go, this past quarter the company's management believes this will significantly boost the company's overall return for investors. 

With political issues in several countries where Occidental has operations today, its production base is pretty much based in two areas: The Permian Basin of West Texas and the Southeastern part of the Middle East in the United Arab Emirates and Oman. Find out what you can expect from these two regions long term by tuning into the video below.