Occidental Petroleum Corp

Latest Results (03.09.2025):

Occidental Petroleum Corp reported its financial results for the fourth quarter of 2024, demonstrating strong operational performance despite a net loss attributable to common stockholders. The company achieved significant milestones in debt repayment, dividend enhancement, and reserve replacement, positioning itself for long-term sustainability.

Debt Repayment Completed

Occidental successfully completed its near-term debt repayment target of $4.5 billion, reinforcing its financial stability and commitment to deleveraging priorities.

Dividend Increased by 9%

The company announced a 9% increase in its quarterly dividend to $0.24 per share, payable on April 15, 2025, to stockholders of record as of March 10, 2025, reflecting confidence in its financial health.

Strong Operational Cash Flow

Operating cash flow reached $3.6 billion, with operating cash flow before working capital at $3.1 billion. Quarterly free cash flow before working capital amounted to $1.4 billion, driven by effective capital management.

Production Exceeds Guidance

Total company production for the quarter was 1,463 Mboed, surpassing the mid-point of guidance by 13 Mboed. This achievement was led by strong performance in the Permian and Rockies & Other Domestic regions.

Robust Reserves Replacement

Occidental reported worldwide year-end proved reserves of 6 billion BOE, with reserves replacement ratios of 230% all-in and 112% organic, indicating a solid foundation for future growth.

OxyChem and Midstream Segments Perform Well

The Midstream and Marketing segment exceeded income guidance, while OxyChem reported pre-tax income of $270 million, surpassing expectations despite lower PVC pricing and seasonal demand.