OXY(OXY) - 2025 Q2 - Quarterly Results

Second Quarter 2025 Earnings Considerations This section details key financial considerations for Occidental's second quarter 2025, encompassing notable items, price realizations, and forward-looking statements Notable Items for Q2 2025 This section outlines key factors influencing Occidental's second quarter 2025 results, including diluted shares, Gulf of America production, and the adjusted effective tax rate - Average diluted shares outstanding for the second quarter of 2025 were 1,010.4 million shares[2] - Gulf of America sales volumes are estimated to be 125 Mboed for Q2 2025 due to production curtailments, though total company production is expected to stay within the guided range[3] - The Adjusted Effective Tax Rate is anticipated to be 35-37%, an increase driven by a shift in the jurisdictional income mix resulting from lower expected full-year oil prices[3] Price Realizations This chapter details Occidental's average realized prices for oil, NGL, and natural gas for Q2 2025, comparing them against key market indices Average Realized and Index Prices for Q2 2025 | Category | Sub-Category | Price | | :--- | :--- | :--- | | Average Realized Prices | | | | Oil ($/Bbl) | United States | $62.83 | | | International | $68.88 | | | Total Worldwide | $63.76 | | NGL ($/Bbl) | United States | $20.05 | | | International | $25.72 | | | Total Worldwide | $20.71 | | Natural Gas ($/Mcf) | United States | $1.33 | | | International | $1.90 | | | Total Worldwide | $1.46 | | Average Index Prices | | | | WTI oil ($/Bbl) | | $63.74 | | Brent oil ($/Bbl) | | $66.59 | | NYMEX gas ($/Mcf) | | $3.68 | Realized Prices as a Percentage of Index Prices | Comparison | Percentage | | :--- | :--- | | Worldwide oil as a percentage of average WTI | 100% | | Worldwide oil as a percentage of average Brent | 96% | | Worldwide NGL as a percentage of average WTI | 32% | | Domestic natural gas as a percentage of average NYMEX | 36% | Forward-Looking Statements and Risk Factors This section serves as a legal disclaimer, classifying report projections as forward-looking statements and outlining key risk factors that could cause actual results to differ - The report contains forward-looking statements about expectations, beliefs, plans, or forecasts, which are not guarantees of future performance and are subject to change[5] - Key risk factors that could cause actual results to differ from projections include: - General economic conditions and commodity price fluctuations - Occidental's indebtedness and ability to generate sufficient cash flow - Actions by OPEC and non-OPEC countries - Operational risks, including project delays, HSE issues, and production levels - Regulatory, geopolitical, and market credit risks[6][7] - Additional information on factors that may cause results to differ can be found in Occidental's SEC filings, including the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K[8]