Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 70

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 70
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GL as a percentage of average WTI30 %32 %33 %27 %Domestic natural gas as a percentage of average NYMEX45 %36 %49 %36 %

Q3 2025 compared to Q2 2025

Oil and gas segment earnings were $1.3 billion for the three months ended September 30, 2025, compared with segment earnings of $0.9 billion for the three months ended June 30, 2025. Excluding the impact of items affecting comparability, oil and gas segment earnings increased due to higher crude oil sales volumes worldwide and higher domestic oil prices.

Average daily sales volumes increased for the three months ended September 30, 2025, compared to the three months ended June 30, 2025, mainly due to higher production from current year drilling plans in the Midland Basin.

YTD 2025 compared to YTD 2024

Oil and gas segment earnings were $3.9 billion for the nine months ended September 30, 2025, compared to $4.0 billion for the nine months ended September 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 nine months of production from CrownRock assets in 2025.

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

31

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 June 30, 2025 (b)Price RealizationsNet Sales VolumesThree months ended September 30, 2025 (b)United States RevenueOil$3,456 $98 $210 $3,764 NGL457 (27)39 469 Natural gas205 21 14 240 Total$4,118 $92 $263 $4,473 International RevenueOil (a)$690 $(30)$35 $695 NGL86 (4)6 88 Natural gas88 (1)4 91 Total$864 $(35)$45 $874 

Increase (Decrease) Related