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Occidental Petroleum Corporation

Company Summary

Description

Occidental Petroleum Corporation (NYSE: OXY) is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental's midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities. Occidental's wholly owned subsidiary, OxyChem, is a major North American chemical manufacturer.

Website

http://www.oxy.com/OurBusinesses/Pages/default.asp...

Operational Regions

  • Permian Basin
  • Eagle Ford
  • Middle East
  • Latin America

Financial Data:

NYSE:OXY from Google Finance

Tickers:

  • OXY - New York Stock Exchange

Related Entities

Firm Transport Commitments

Project: Gulf Coast Express Pipeline Project
Firm Commitment: 0

Recent news

  • 7/14/2022 - Berkshire Hathaway Edges... (subscriber access)
  • 6/28/2022 - Berkshire Hathaway... (subscriber access)
  • 6/27/2022 - Oxy Subsidiary Acquires... (subscriber access)
  • 6/23/2022 - Berkshire Hathaway... (subscriber access)
  • 5/11/2022 - Western Midstream... (subscriber access)

Investor Presentations

  • 4Q21 Earnings Presentation
  • 3Q21 Earnings Presentation (subscriber access)
  • 2Q21 Earnings Presentation (subscriber access)
  • 1Q21 Earnings Presentation (subscriber access)
  • 4Q20 Investor Presentation (subscriber access)
  • 3Q20 Earnings Presentation (subscriber access)
  • 2Q20 Investor Presentation (subscriber access)
  • 1Q20 Earnings Presentation (subscriber access)
  • 4Q19 Investor Presentation (subscriber access)
  • 3Q19 Investor Presentation (subscriber access)
  • 2Q19 Investor Presentation (subscriber access)
  • 1Q19 Investor Presentation (subscriber access)
  • 4Q18 Presentation (subscriber access)
  • 3Q18 Earnings Presentation (subscriber access)
  • Permian Resources New Mexico Field Tour (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 1Q18 Investor Presentation (subscriber access)
  • Fourth Quarter 2017 Earnings Slides (subscriber access)
  • 3Q17 Conference Call (subscriber access)
  • 2Q17 Earnings Conference Call Slides (subscriber access)
  • June 2017 Investor Presentation - Updated with M&A Deals (subscriber access)
  • 1Q17 Earnings Presentation (subscriber access)
  • 4Q16 Conference Call Slides (subscriber access)
  • 3Q16 Investor Presentation (subscriber access)
  • 2Q16 Conference Call Slides (subscriber access)
  • UBS Global Oil & Gas Conference - May 2016 (subscriber access)
  • 1Q16 Earnings Slides (subscriber access)
  • March 2016 Weil Energy Conference (subscriber access)
  • 21st Annual Credit Suisse Energy Summit GAAP Reconciliation (subscriber access)
  • 21st Annual Credit Suisse Energy Summit Presentation (subscriber access)

Company Transactions

Date: 10/15/2021
Type: Acquisition

DETAILS:

COST: 550 $MM

VOLUMES: 17 MBOE/d

NOTES:
Kosmos Energy has purchased an additional stake in several Ghana offshore fields from Occidental Petroleum for $550 million. The deal included an 18% stake in the Jubilee Field and an 11% interest in the TEN fields. The deal adds +17 Mboe/d in production to Kosmos' existing stake, along with 100 Mmboe in 2P reserves.
REGIONS:
  • West Africa
  • Date: 10/15/2021
    Type: Acquisition

    DETAILS:

    COST: 220 $MM

    VOLUMES: 4 MBOE/d

    NOTES:
    Occidental Petroleum announced that they have sold off their stake in two Ghana offshore fields for $750 million, including a $550 million sale to Kosmos Energy and a $220 million deal with Ghana National Petroleum Corporation.
    REGIONS:
  • West Africa
  • Date: 9/30/2021
    Type: Acquisition

    DETAILS:

    COST: 508 $MM

    VOLUMES: 10 MBOE/d

    ACRES: 25000 Acres

    NOTES:
    Occidental Petroleum has agreed to sell non-core assets in the Southern Delaware Basin for $508 million to Colgate Energy Partners III, LLC. The deal included 25,000 net acres and 10 Mboe/d on production from 360 active wells.
    REGIONS:
  • Delaware Basin
  • Date: 12/31/2020
    Type: Acquisition

    DETAILS:

    COST: 825 $MM

    NOTES:
    Occidental Petroleum reached a deal with The Carlyle Group to sell all of their onshore Columbian assets for $825 million, including $700 million due upfront. The deal will close in the fourth quarter of 2020 and includes interests in the Llanos Norte, Middle Magdalena and Putumayo Basins.
    REGIONS:
  • South America
  • Date: 8/20/2020
    Type: Acquisition

    DETAILS:

    COST: 1.33 $B

    ACRES: 5500000 Acres

    NOTES:
    Occidental Petroleum has reached a deal to sell their Wyoming, Colorado and Utah Land Grant Assets to Orion Mine Finance for $1.33 billion. The deal covers 4.5 million mineral acres and 1 million fee surface acres and Oxy will retain all cash flow from currently producing oil and gas assets on the position.
    REGIONS:
  • Rockies
  • Date: 12/31/2019
    Type: Acquisition

    NOTES:
    Occidental delivered a letter to Anadarko setting forth the terms of a superior proposal by Occidental to acquire Anadarko for $76.00 per share consisting of 78% cash and 22% stock.
    REGIONS:
  • DJ Basin
  • Permian Basin
  • Gulf of Mexico
  • International
  • Date: 12/31/2019
    Type: Acquisition

    NOTES:
    Occidental has signed a contingent deal with Total to sell them Anadarko's assets in Africa for $8.8 billion if Oxy's bid to purchase Anadarko is completed. The assets include projects in Algeria, Ghana, Mozambique and South Africa and proceeds would cover a portion of the cash consideration proposed by Occidental.
    REGIONS:
  • Africa
  • Date: 9/30/2019
    Type: Acquisition

    BUYERS:
  • TotalEnergies
  • DETAILS:

    COST: 3.9 $B

    VOLUMES: 26.5 Percent

    NOTES:
    Total closed the $3.9 billion acquisition of a 26.5% operating stake in the Mozambique LNG project.
    REGIONS:
  • Africa
  • Date: 8/1/2019
    Type: Joint Venture

    DETAILS:

    COST: 1.5 $B

    ACRES: 97000 Acres

    NOTES:
    Ecopetrol and Occidental Petroleum have entered into a joint-venture to develop 97,000 net acres in the Midland Basin, which are owned by Occidental. The JV will allow Ecopetrol to book 160 MMboe in proved undeveloped reserves upon closing, with plans to boost production to 95 Mboe/d by 2027. Ecopetrol will pay $750 million in cash and $750 million in carried capital for a 49% stake in the JV, and during the carry period Ecopetrol will pay 75% of Oxy's share of capital spending.
    REGIONS:
  • Midland Basin
  • Date: 9/30/2018
    Type: Acquisition

    NOTES:
    Lotus Midstream has entered into a deal to acquire the Centurion Pipeline System from Occidental Petroleum. The transaction is scheduled to close in the third quarter of 2018. The system includes 3,000 miles of crude oil pipelines across the Permian Basin in New Mexico and West Texas, as well as two storage terminals with 7 million barrels of capacity and 125 truck stations.
    REGIONS:
  • Permian Basin
  • Date: 9/30/2018
    Type: Acquisition

    NOTES:
    Moda Midstream has entered into a deal with Occidental Petroleum to acquire the Ingleside Energy Center and certain LPG and crude oil infrastructure.
    REGIONS:
  • Gulf Coast
  • Date: 9/30/2017
    Type: Acquisition

    DETAILS:

    COST: 600 $MM

    VOLUMES: 4.7 MBOE/d

    ACRES: 13000 Acres

    NOTES:
    13,000 net acres in Andrews, Martin and Pecos Counties, Texas
    REGIONS:
  • Permian Basin
  • Date: 8/1/2017
    Type: Acquisition

    SELLERS:
  • Hess Corporation
  • DETAILS:

    COST: 600 $MM

    VOLUMES: 8.2 MBOE/d

    NOTES:
    Through the deal, Occidental is adding to their asset base with 8.2 Mboe/d (70% oil) in production. The deal includes a 34.2% interest in the Seminoles-San Andres Unit, a 46.6% interest in the Seminole Gas Processing Plant, a 100% interest in the West Bravo Dome CO2 Field in New Mexico and a 9.9% interest in the Bravo Dome Unit.
    REGIONS:
  • Permian Basin
  • Date: 10/31/2016
    Type: Acquisition

    DETAILS:

    COST: 2 $B

    VOLUMES: 11 MBOE/d

    ACRES: 35000 Acres

    REGIONS:
  • Permian Basin
  • Date:
    Type: Acquisition

    DETAILS:

    COST: 93.25 $MM

    VOLUMES: 50 Percent

    NOTES:
    Amerisur Resources Plc entered into a farm-out agreement with Occidental Petroleum for 50% of the Putumayo-9, Terecay, Tacacho, and Mecaya blocks, all in the Putumayo region, in southern Colombia. In return, Occidental will fund a $93.25 million exploration and appraisal program between 2019-2021. The blocks contain prospective resources of 656 MMbbls of oil over 1.4 million acres.
    REGIONS:
  • South America