Financial Data and Key Metrics Changes - The company generated $2.6 billion in operating cash flow in Q2 2025, which is higher than the same period in 2024 despite lower oil prices, with WTI averaging $11 per barrel lower [5][6] - Adjusted profit was $0.39 per diluted share, while reported profit was $0.26 per share, with approximately $700 million in free cash flow before working capital [22][23] - The effective tax rate increased due to a shift in the jurisdictional mix of income, with an adjusted effective tax rate expected to be around 32% for Q3 [23][24] Business Line Data and Key Metrics Changes - Oil and gas production reached 1.4 million BOE per day, exceeding guidance, with significant contributions from The Rockies and the Mukhaizna contract extension in Oman [7][24] - The Midstream and Marketing segment generated positive earnings, outperforming guidance due to improved crude marketing margins and gas marketing optimization [12][27] - OxyChem's pretax income fell below guidance due to weaker pricing for caustic and PVC, leading to a lowered full-year guidance range of $800 million to $900 million [28][29] Market Data and Key Metrics Changes - The company reported a 13% reduction in year-to-date Permian unconventional well costs compared to 2024, driven by enhanced efficiencies [11] - The Gulf of America production was impacted by curtailments and maintenance, but new projects are expected to stabilize and potentially increase production in the coming years [55][56] Company Strategy and Development Direction - The company is focused on optimizing its portfolio and has achieved nearly $4 billion in divestitures since January 2024, which has accelerated debt repayments [20][31] - The company is committed to carbon capture and enhanced oil recovery (EOR), with significant investments in the Stratus project and partnerships to develop direct air capture facilities [14][16][19] - The strategic focus includes maintaining a balance between debt reduction and capital allocation for growth opportunities, particularly in Oman and low decline projects [79][81] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in operational efficiencies and cost reductions, with expectations for strong production in the second half of the year [26][30] - The company anticipates that U.S. oil production could peak between 2027 and 2030, with significant potential for additional recovery through CO2 EOR [73][74] - The recent legislative changes, including the One Big Beautiful Bill, are expected to provide substantial cash tax benefits and support the company's carbon management initiatives [30][16] Other Important Information - The company has successfully reduced its debt by approximately $7.5 billion in the past year, significantly ahead of its initial targets [31][32] - The company is leveraging advanced technologies, including AI, to enhance operational efficiencies and subsurface characterization [70][71] Q&A Session All Questions and Answers Question: Follow-up on cash tax rate and expectations from the One Big Beautiful Bill - The company confirmed that 35% of the estimated $700 million to $800 million cash tax benefit will be realized in 2025, with the remainder in 2026, impacting deferred tax expenses rather than the adjusted income effective tax rate [37][38] Question: Inquiry about the MHAISNER contract and free cash implications - Management highlighted the benefits of the Oman contract, emphasizing its competitiveness and potential for future production increases, while also noting the historical production success [42][43] Question: Strategic focus on carbon business and point source opportunities - The company has always been interested in point source capture and is optimistic about the potential for industrial sources of CO2 to collaborate on arrangements [49][50] Question: Production capacity in the Gulf of America - Management indicated that water flood projects will help stabilize production decline rates, with a strong production ramp-up expected due to recent engineering successes [56][57] Question: Cost savings and spending trends in the Lower 48 - The company anticipates reductions in capital expenditures due to ongoing efficiencies, with a focus on maintaining optimized activity levels [60][62] Question: Outlook for OxyChem income amid PVC oversupply - The company noted that the PVC and caustic market is currently burdened by oversupply, particularly from China, and does not expect significant recovery in 2026 [86] Question: Production trends in the Permian Basin - Management expects an increase in oil cut in the second half of the year, driven by improved drilling and completion efficiencies [91][92]

Financial Data and Key Metrics Changes - The company generated $2.6 billion in operating cash flow in Q2 2025, which is higher than the same period in 2024 despite lower oil prices, with WTI averaging $11 per barrel lower [4][6] - Adjusted profit was reported at $0.39 per diluted share, while reported profit was $0.26 per share [21] - Free cash flow before working capital was approximately $700 million, driven by strong operational performance [21][22] - The effective tax rate increased due to a shift in the jurisdictional mix of income, with an adjusted effective tax rate expected to be around 32% for Q3 [22] Business Line Data and Key Metrics Changes - Oil and gas production reached 1.4 million BOE per day, exceeding guidance, with notable performance in The Rockies and an uplift from the Mukhaizna contract extension [6][22] - The Midstream and Marketing segment generated positive earnings, outperforming guidance due to improved crude marketing margins and gas marketing optimization [11][26] - OxyChem's pretax income fell below guidance due to weaker pricing for caustic and PVC, leading to a lowered full-year guidance range of $800 million to $900 million [27][28] Market Data and Key Metrics Changes - The company reported a 13% reduction in year-to-date Permian unconventional well costs compared to 2024, driven by enhanced efficiencies [10] - The Gulf of America production was impacted by curtailments and maintenance, but new projects are expected to improve production capacity in the future [54][63] Company Strategy and Development Direction - The company is focused on optimizing its portfolio and has achieved $950 million in additional divestitures since Q1 2025, totaling nearly $4 billion since January 2024 [19][30] - The company is committed to reducing debt, having repaid approximately $7.5 billion in the last 13 months, significantly ahead of its targets [5][31] - The company sees significant potential in carbon capture and enhanced oil recovery (EOR), with a belief that CO2 EOR could recover an additional 50 to 70 billion barrels of oil in the U.S. [16][71] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of cost reductions achieved through operational efficiencies and structural changes [9][22] - The outlook for the second half of the year remains strong, with expectations for increased production across all main operating areas [24][26] - The company anticipates that the recent legislative changes will provide significant cash tax benefits, estimated at $700 million to $800 million [29][36] Other Important Information - The Stratos project is on track to start capturing CO2 this year, with significant milestones achieved in its development [12][14] - The company has signed additional commercial agreements for carbon dioxide removal sales, indicating a strong market for carbon removal technologies [14] Q&A Session Summary Question: Follow-up on cash tax rate and benefits from the One Big Beautiful Bill - Management confirmed that 35% of the estimated $700 million to $800 million cash tax benefit will be realized in 2025, with the remainder in 2026 [35][36] Question: Free cash implications of the Oman contract - Management highlighted the competitive nature of the Oman contract and its potential for future production increases [38][40] Question: Strategic focus on carbon business and point source opportunities - Management reiterated ongoing interest in point source capture and the potential for industrial sources of CO2 to collaborate [46][47] Question: Production capacity in the Gulf of America - Management discussed the expected ramp-up in production due to water floods and ongoing optimization efforts [54][55] Question: Trajectory of OxyChem income and PVC oversupply - Management indicated that the PVC oversupply is influenced by global market conditions, particularly from China, and does not expect a significant recovery in 2026 [84][85] Question: EOR opportunities and shale EOR viability - Management acknowledged the economic viability of shale EOR with current crude prices and emphasized the need to address CO2 availability constraints [97]

Financial Performance & Debt Reduction - Occidental generated approximately $2.6 billion in operating cash flow before working capital in Q2 2025[6, 11] - The company repaid $7.5 billion of debt over the last 13 months, reducing annual interest expense by ~$410 million[7, 24] - Additional divestitures of approximately $950 million were announced since Q1 2025[7, 11, 24] - Unrestricted cash balance as of June 30, 2025, was $2.3 billion[27] Cost Reduction & Efficiency - $150 million of additional 2025 capital and opex reductions are planned[7, 13] - Cumulative cost reductions of $500 million are expected in 2025, enhancing cash flow[7] - Domestic operating cost reduction drivers are expected to save ~$150 million in 2025[13] - Permian unconventional well costs in 1H25 were 13% lower than the 2024 average[15] Production & Operations - Total company production was 1,400 Mboed in Q2 2025[11, 27] - OxyChem pre-tax income was $213 million in Q2 2025[27] - Midstream adjusted pre-tax income was $116 million in Q2 2025[27]

智通财经APP获悉，周四，西方石油(OXY.US)盘中一度涨6%，截至发稿，涨逾3%，报43.93美元。消息 面上，西方石油公布的第二季度盈利超出华尔街预期，公司实现营收64.6亿美元，优于分析师预期的 62.4亿美元，调整后每股收益为0.39美元，显著高于分析师平均预测的0.29美元。展望未来，西方石油 表示，将本年度资本支出预测中值下调1亿美元，国际运营成本削减5000万美元。 ...

Core Viewpoint - Occidental Petroleum (OXY.US) reported better-than-expected second-quarter earnings, leading to a stock price increase of over 3% [1] Financial Performance - The company achieved revenue of $6.46 billion, surpassing analyst expectations of $6.24 billion [1] - Adjusted earnings per share were $0.39, significantly higher than the average analyst forecast of $0.29 [1] Future Outlook - Occidental Petroleum has lowered its capital expenditure forecast by $100 million for the year [1] - The company plans to reduce international operating costs by $50 million [1]

Core Insights - Occidental Petroleum Corporation (OXY) reported second-quarter 2025 earnings of 39 cents per share, exceeding the Zacks Consensus Estimate of 28 cents by 39.3%, but down 62.1% year over year [1][8] - Total revenues for OXY were $6.45 billion, missing the Zacks Consensus Estimate of $6.47 billion by 0.3% and reflecting a 6.2% decline year over year [2][8] Financial Performance - GAAP earnings were 26 cents per share compared to $1.03 in the same quarter last year, with a 13-cent impact from after-tax non-core adjustments [1] - Interest and debt expenses increased by 9.5% to $276 million from $252 million in the year-ago quarter [9] - Operating cash flow generated was $2.96 billion in Q2 2025, up from $2.39 billion in Q2 2024 [11] Revenue Breakdown - Oil and Gas revenues totaled $5 billion, down 8.4% year over year [3] - Chemical revenues amounted to $1.2 billion, down 3.7% year over year [3] - Midstream & Marketing revenues improved significantly to $426 million, up 51.1% year over year [3][8] Production and Sales - Total production volume was 1,400 thousand barrels of oil equivalent per day (Mboe/d), within the company's guidance of 1,377-1,417 Mboe/d [4] - Total sales volume increased by 10.9% year over year to 1,397 Mboe/d [4] Price Realization - Realized prices for crude oil decreased by 20.2% year over year to $63.76 per barrel [5] - Realized natural gas liquids prices fell by 2.4% year over year to $20.71 per barrel [5] - Natural gas prices surged by 146.3% year over year to $1.33 per thousand cubic feet [5] Operational Efficiency - The company reduced the mid-point of 2025 capital guidance by $100 million and international operating costs by $50 million due to operational efficiency [6] - In the first half of 2025, OXY reduced Delaware Basin drilling duration per well by 20% from 2024 levels, leading to a 14% reduction in per-well costs [6] Future Guidance - For Q3 2025, OXY expects production of 1,415-1,455 Mboe/d, with Permian Resources segment output anticipated at 779-799 Mboe/d [12] - Capital expenditure for 2025 is projected to be between $7.1 billion and $7.3 billion [13]

Core Viewpoint - Western Oil (OXY.US) reported second-quarter earnings that exceeded Wall Street expectations, with production growth effectively offsetting the impact of declining oil prices [1][3]. Financial Performance - The company achieved quarterly revenue of $6.46 billion, surpassing analyst expectations of $6.24 billion, with adjusted earnings per share of $0.39, significantly higher than the average forecast of $0.29 [1]. - Global average daily production reached 1.4 million barrels of oil equivalent, representing an approximate 11% year-over-year increase [1]. - Natural gas prices doubled year-over-year to $1.33 per thousand cubic feet, providing support for the company's profitability, while average realized oil prices fell about 20% to $63.76 per barrel [3]. Asset Management - Since the beginning of the second quarter, Western Oil has completed $950 million in new asset divestiture transactions, with $370 million already closed [3]. - As part of its asset divestiture plan, the company agreed to sell a portion of its natural gas gathering assets in the Midland Basin to a subsidiary of Enterprise Products Partners (EPD.US) for $580 million [3]. Strategic Outlook - The company is actively pursuing a dual-track development strategy that focuses on both traditional energy and low-carbon business initiatives [5]. - Western Oil has lowered its median capital expenditure forecast by $100 million and reduced international operating costs by $50 million for the year [5].

Group 1 - The core viewpoint of the article highlights that Occidental Petroleum (OXY.US) reported second-quarter earnings that exceeded Wall Street expectations, driven by production growth offsetting the impact of declining oil prices [1][3] - The company achieved quarterly revenue of $6.46 billion, surpassing analyst expectations of $6.24 billion, with adjusted earnings per share of $0.39, significantly higher than the average forecast of $0.29 [1] - Occidental's global average daily production reached 1.4 million barrels of oil equivalent, representing an approximate 11% year-over-year increase [1] Group 2 - Occidental Petroleum has completed $950 million in new asset divestiture transactions since the beginning of the second quarter, with $370 million already closed [3] - The company sold a portion of its natural gas gathering assets in the Midland Basin to Enterprise Products Partners (EPD.US) for $580 million as part of its divestiture plan [3] - The company has repaid $3 billion in debt this year, and its stock price rose over 2% in after-hours trading following the positive earnings report [3] Group 3 - Natural gas prices have significantly supported the company's profitability, doubling year-over-year to $1.33 per thousand cubic feet, while average realized oil prices fell approximately 20% to $63.76 per barrel [3] - The average Brent crude futures price dropped about 20% year-over-year to around $70 per barrel, influenced by global uncertainties exacerbated by U.S. tariff policies [3] - Occidental Petroleum is a leading player in the U.S. shale oil sector, with significant operations in the Permian Basin, DJ Basin, and Gulf of Mexico, while also advancing its carbon management strategy [5] Group 4 - The company has adjusted its capital expenditure forecast down by $100 million and reduced international operating costs by $50 million for the year [5] - The management emphasized the operational strength of its diversified asset portfolio and the dual-track development strategy of traditional energy and low-carbon business [5]

Core Viewpoint - Occidental Petroleum reported quarterly earnings of $0.39 per share, exceeding the Zacks Consensus Estimate of $0.28 per share, but down from $1.03 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was +39.29%, following a previous surprise of +19.18% when actual earnings were $0.87 per share against an expectation of $0.73 [2] - Revenues for the quarter were $6.46 billion, slightly missing the Zacks Consensus Estimate by 0.34%, and down from $6.88 billion year-over-year [3] Stock Performance and Outlook - Occidental shares have declined approximately 12.8% year-to-date, contrasting with the S&P 500's gain of 7.1% [4] - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $6.66 billion, and for the current fiscal year, it is $2.29 on revenues of $26.68 billion [8] Industry Context - The Oil and Gas - Integrated - United States industry is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges for stock performance [9] - Epsilon Energy Ltd., another company in the same industry, is expected to report earnings of $0.08 per share, reflecting a year-over-year change of +100%, with revenues projected at $11.85 million, up 62.1% from the previous year [10][11]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 1-9210 _____________________ OCCIDENTAL PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) Del ...