Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 188

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 188
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Domestic oil and gas results, excluding significant items affecting comparability, decreased in 2024, compared to 2023, primarily due to lower realized oil and natural gas prices, partially offset by higher sales volumes across all commodities, largely driven by the CrownRock Acquisition. International oil and gas results, excluding significant items affecting comparability, decreased in 2024, compared to 2023, primarily due to lower oil and NGL prices and higher lease operating costs, partially offset by higher sales volumes. 

 OXY 2024 FORM 10-K43

table of contentsMANAGEMENT’S DISCUSSION AND ANALYSIS

Average Realized Prices

The following table sets forth the average realized prices for oil, NGL and natural gas from ongoing operations for each of the three years in the period ended December 31, 2024, and includes a year-over-year change calculation:

2024Year over Year Change2023Year over Year Change2022Average Realized Prices   Oil ($/Bbl)   United States$74.62 (2)%$76.42 (19)%$94.12 International$77.46 (2)%$79.03 (17)%$95.46 Total worldwide$75.05 (2)%$76.85 (19)%$94.36 NGL ($/Bbl)United States$20.48 1%$20.19 (43)%$35.69 International$28.00 (5)%$29.35 (14)%$34.09 Total worldwide$21.38 —%$21.32 (40)%$35.48 Natural Gas ($/Mcf)United States$0.94 (54)%$2.04 (63)%$5.48 International$1.89 1%$1.88 (1)%$1.89 Total worldwide $1.18 (41)%$2.00 (56)%$4.51 

Realized Price and Sales Volume Variance

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 tomillionsYear ended December 31, 2023(a)Price RealizationsNet Sales VolumesYear ended December 31, 2024(a)United States RevenueOil$14,893 $(