Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 93

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 93
---
 COMPLETION

The following table sets forth, as of December 31, 2024, Occidental’s participation in exploratory and development wells being drilled:

United StatesInternationalTotalExploratory and development wells being drilled   Gross153 15 168 Net114 11 125 Exploratory and development wells pending completion (a)   Gross143 — 143 Net86 — 86 

(a)Wells suspended or waiting on completion include exploration and development wells where drilling has occurred, but the wells are awaiting the completion of hydraulic fracturing or other completion activities or the resumption of drilling in the future. There were 63 MMboe of PUD reserves primarily assigned to U.S. onshore development wells suspended or waiting on completion as of December 31, 2024. Occidental expects to convert all of these PUD reserves to developed status within five years of their initial disclosure.

As of December 31, 2024, Occidental was participating in 107 and 33 gross pressure-maintenance projects in the United States and internationally, respectively. In the United States, these projects primarily consisted of waterfloods and CO2 floods, and in the Middle East and North Africa, these projects consisted mostly of waterfloods.

OIL AND GAS ACREAGE

The following table sets forth, as of December 31, 2024, Occidental’s holdings of developed and undeveloped oil and gas acreage:

thousandsUnited StatesInternationalTotalDeveloped (a)   Gross (b)5,755 1,271 7,026 Net (c)3,847 471 4,318 Undeveloped (d) Gross (b)1,418 8,373 9,791 Net (c)906 7,305 8,211 Fee Mineral Ownership (e)Gross (b)8,051 — 8,051 Net (c)4,583 — 4,583 

(a)Acres spaced or assigned to productive wells.

(b)Total acres in which interests are held.

(c)Sum of the fractional interests owned based on working interests, or interests under PSCs and other economic arrangements.

(d)Acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and gas, regardless of whether the acreage contains proved reserves.

(e)Occidental