Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 81

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 81
---
31, 20241,243 249 1,492 PROVED UNDEVELOPED RESERVES December 31, 2021326 79 405 December 31, 2022431 74 505 December 31, 2023460 82 542 December 31, 2024589 54 643 

(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 43 MMbbl were related to additions associated with infill development projects, primarily in the Permian Basin (22 MMbbl), the DJ Basin (14 MMbbl), and international assets (4 MMbbl). Further positive revisions were primarily associated with updates based on reservoir performance (55 MMbbl), primarily due to positive performance revisions in GOA (32 MMbbl), the DJ Basin (15 MMbbl), and international assets (7 MMbbl). The positive revisions were partially offset by negative revisions of 48 MMbbl associated with management changes in development plans, mainly in the Permian Basin (19 MMbbl), Oman (18 MMbbl), and GOA (10 MMbbl). Further negative revisions of 13 MMbbl were associated with negative price revisions, mainly in the Permian Basin.

 OXY 2024 FORM 10-K113

table of contentsSupplemental Oil and Gas Information(Unaudited)

NGL RESERVES 

MMbblUnited StatesInternationalTotalPROVED DEVELOPED AND UNDEVELOPED RESERVES Balance as of December 31, 2021564 202 766 Revisions of previous estimates126 2 128 Improved recovery13 — 13 Extensions and discoveries36 — 36 Purchases of proved reserves2 — 2 Sales of proved reserves(4)— (4)Production(83)(12)(95)Balance as of December 31, 2022654 192 846 Revisions of previous estimates 183 2 185 Improved recovery2 — 2 Extensions and discoveries45 — 45 Purchases of proved reserves9 — 9 Sales of proved reserves(1)— (1)Production(90)(13)(103)Balance as of December 31, 2023802 181 983 Revisions of previous estimates(a