Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 82

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 82
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)68 9 77 Improved recovery2 — 2 Extensions and discoveries100 — 100 Purchases of proved reserves200 — 200 Sales of proved reserves (10)— (10)Production(102)(14)(116)Balance as of December 31, 20241,060 176 1,236 PROVED DEVELOPED RESERVES December 31, 2021433 125 558 December 31, 2022444 120 564 December 31, 2023515 124 639 December 31, 2024709 130 839 PROVED UNDEVELOPED RESERVES December 31, 2021131 77 208 December 31, 2022210 72 282 December 31, 2023287 57 344 December 31, 2024351 46 397 

(a)Revisions of previous estimates in 2024 included the effects of new infill drilling, price revisions and other updates, including changes in reservoir performance, economic conditions, and development plans. Positive revisions of 35 MMbbl were related to additions associated with infill development projects, primarily in the DJ Basin (21 MMbbl) and the Permian Basin (12 MMbbl). Further positive revisions were primarily associated with updates based on reservoir performance (61 MMbbl), primarily due to positive performance revisions in the DJ Basin (31 MMbbl), the Permian Basin (14 MMbbl), and international assets (9 MMbbl). The positive revisions were partially offset by negative revisions of 20 MMbbl associated with management changes in development plans, mainly in the Permian Basin (18 MMbbl). Further negative revisions of 8 MMbbl were associated with negative price revisions, mainly in the Permian Basin.

114 OXY 2024 FORM 10-K

table of contentsSupplemental Oil and Gas Information(Unaudited)

NATURAL GAS RESERVES 

BcfUnited StatesInternationalTotalPROVED DEVELOPED AND UNDEVELOPED RESERVES Balance as of December 31, 20213,419 2,431 5,850 Revisions of previous estimates841 (30)811 Improved recovery51 17 68 Extensions and discoveries244 23 267 Purchases of proved reserves8 — 8 Sales of proved reserves(45)— (45)Production(