Company: OXY-WT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000797468-25-000111
Chunk: 9

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 9
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$3.62$3.65$2.17Average Realized Prices as Percentage of Average Index PricesWorldwide oil as a percentage of average WTI100 %100 %100 %99 %Worldwide oil as a percentage of average Brent96 %95 %95 %94 %Worldwide NGL as a percentage of average WTI32 %36 %34 %28 %Domestic natural gas as a percentage of average NYMEX36 %67 %52 %49 %

Q2 2025 compared to Q1 2025

Oil and gas segment earnings were $0.9 billion for the three months ended June 30, 2025, compared with segment earnings of $1.7 billion for the three months ended March 31, 2025. Excluding the impact of items affecting comparability, oil and gas segment earnings decreased due to lower commodity prices across all products, partially offset by higher crude oil sales volumes and lower lease operating expense.

YTD 2025 compared to YTD 2024

Oil and gas segment earnings were $2.6 billion for the six months ended June 30, 2025, compared to $2.9 billion for the six months ended June 30, 2024. Excluding the impact of items affecting comparability, oil and gas segment earnings decreased primarily due to lower crude oil prices, partially offset by higher sales volumes due to a full six months of production from CrownRock assets in 2025.

Average daily sales volumes increased for the six months ended June 30, 2025, compared to the same period in 2024, mainly due to the CrownRock Acquisition.

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The following table presents an analysis of the impacts of changes in average realized prices and sales volumes with regard to Occidental's domestic and international oil and gas revenue:

Increase (Decrease) Related tomillionsThree months ended March 31, 2025 (b)Price RealizationsNet Sales VolumesThree months ended June 30, 2025 (b)United States RevenueOil$3,830 $(439)$65 $3,456 NGL578 (140)19 457 Natural gas381 (161)(15)205 Total$4,789 $(740)$69 $4,118 International RevenueOil (a)$675 $(32)$47 $690 NGL96 (6)(4)86 Natural gas