SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549



                                    Form 8-K


                                 CURRENT REPORT



                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934




                                January 14, 1999
               (Date of Report - Date of earliest event reported)





                             KERR-MCGEE CORPORATION
             (Exact name of registrant as specified in its charter)


   Delaware                         1-3939                     73-0311467 
  (State of                (Commission File Number)          (IRS Employer
Incorporation)                                             Identification No.)



           Kerr-McGee Center
        Oklahoma City, Oklahoma                                  73125  
(Address of principal executive offices)                      (Zip Code)



                                 (405) 270-1313
                         (Registrant's telephone number)





Item 5.  Other Events

     Kerr-McGee  Corporation  announced it is budgeting $545 million for capital
spending in 1999,  following  the  completion  of the  proposed  merger  between
Kerr-McGee and Oryx Energy Company.

     Kerr-McGee  also  announced it would take a non-cash,  after-tax  charge of
$250  million in the fourth  quarter of 1998 related  primarily  to  write-downs
resulting from low oil and natural gas prices.

     As a result of the  proposed  merger  with Oryx,  the  Kerr-McGee  board of
directors  voted to rescind the $300 million stock  repurchase  program that was
announced in July 1998.


Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (c)     Exhibits

         99.1    News Release dated  January 14,  1999,  announcing Kerr-McGee's
                 capital budget for 1999, a fourth quarter 1998 asset impairment
                 write-down  and the rescission of its stock repurchase program.



                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                                  KERR-MCGEE CORPORATION


                                         By:      (Deborah A. Kitchens)
                                                   Deborah A. Kitchens
                                                   Vice President and Controller

Dated:        January 19, 1999
[{"type": "8-K", "sequence": "1", "description": "CURRENT REPORT", "secsgml_size_bytes": 2622}]
{"company-data": {"conformed-name": "KERR MCGEE CORP", "cik": "0000055458", "assigned-sic": "1311", "irs-number": "730311467", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-03939", "film-number": "99508210"}, "business-address": {"street1": "KERR MCGEE CTR", "street2": "123 ROBERT S KERR", "city": "OKLAHOMA CITY", "state": "OK", "zip": "73102", "phone": "4052701313"}, "mail-address": {"street1": "P O BOX 25861", "city": "OKLAHOMA CITY", "state": "OK", "zip": "73125"}, "former-company": {"former-conformed-name": "KERR MCGEE OIL INDUSTRIES INC", "date-changed": "19671227"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

                                January 14, 1999
               (Date of Report - Date of earliest event reported)

                             KERR-MCGEE CORPORATION
             (Exact name of registrant as specified in its charter)

   Delaware                         1-3939                     73-0311467 
  (State of                (Commission File Number)          (IRS Employer
Incorporation)                                             Identification No.)

           Kerr-McGee Center
        Oklahoma City, Oklahoma                                  73125  
(Address of principal executive offices)                      (Zip Code)

                                 (405) 270-1313
                         (Registrant's telephone number)

Item 5.  Other Events

     Kerr-McGee  Corporation  announced it is budgeting $545 million for capital
spending in 1999,  following  the  completion  of the  proposed  merger  between
Kerr-McGee and Oryx Energy Company.

     Kerr-McGee  also  announced it would take a non-cash,  after-tax  charge of
$250  million in the fourth  quarter of 1998 related  primarily  to  write-downs
resulting from low oil and natural gas prices.

     As a result of the  proposed  merger  with Oryx,  the  Kerr-McGee  board of
directors  voted to rescind the $300 million stock  repurchase  program that was
announced in July 1998.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (c)     Exhibits

         99.1    News Release dated  January 14,  1999,  announcing Kerr-McGee's
                 capital budget for 1999, a fourth quarter 1998 asset impairment
                 write-down  and the rescission of its stock repurchase program.

                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                  KERR-MCGEE CORPORATION

                                         By:      (Deborah A. Kitchens)
                                                   Deborah A. Kitchens
                                                   Vice President and Controller

Dated:        January 19, 1999