Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 91

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 91
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,110)Future income tax expense(10,441)(4,895)(15,336)Future net cash flows54,762 15,498 70,260 10% discount factor(23,715)(6,243)(29,958)Standardized measure of discounted future net cash flows$31,047 $9,255 $40,302 Balance as of December 31, 2022Future cash inflows$186,942 $34,514 $221,456 Future costsProduction costs and other operating(68,068)(9,468)(77,536)Development costs (a)(14,845)(2,498)(17,343)Future income tax expense(18,633)(4,984)(23,617)Future net cash flows85,396 17,564 102,960 10% discount factor(37,340)(7,468)(44,808)Standardized measure of discounted future net cash flows$48,056 $10,096 $58,152 

(a)Included ARO costs.

 OXY 2024 FORM 10-K121

table of contentsSupplemental Oil and Gas Information(Unaudited)

CHANGES IN THE STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS FROM PROVED RESERVE QUANTITIES (a)

millions202420232022Balance as of January 1$40,302 $58,152 $33,824 Sales and transfers of oil and gas produced, net of production costs and other operating expenses(14,577)(14,318)(20,547)Net change in prices received per barrel, net of production costs and other operating expenses(4,903)(23,774)29,798 Extensions, discoveries and improved recovery, net of future production and development costs3,949 2,910 5,390 Change in estimated future development costs(122)(3,430)(1,562)Revisions of quantity estimates3,574 6,313 10,481 Previously estimated development costs incurred during the period3,440 2,584 1,813 Accretion of discount4,052 6,152 3,492 Net change in income taxes1,581 5,575 (5,961)Purchases and sales of reserves in place, net8,050 404 (158)Changes in production rates and other(2,475