Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 85

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 85
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e based on an energy content of six Mcf of gas to one barrel of oil. Conversion to Boe does not necessarily result in price equivalency. 

(b)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 112 MMboe were related to additions associated with infill development projects, mainly in the DJ Basin (55 MMboe), the Permian Basin (45 MMboe), and international assets (8 MMboe). Further positive revisions were primarily associated with updates based on reservoir performance (152 MMboe), primarily due to positive performance revisions in the DJ Basin (81 MMboe), GOA (41 MMboe), international assets (32 MMboe), and the Powder River Basin (11 MMboe). The positive revisions were partially offset by negative revisions of 87 MMboe associated with management changes in development plans, mainly in the Permian Basin (53 MMboe), Oman (19 MMboe), and GOA (13 MMboe). Further negative revisions of 29 MMboe were associated with negative price revisions, mainly in the Permian Basin.

116 OXY 2024 FORM 10-K

table of contentsSupplemental Oil and Gas Information(Unaudited)

CAPITALIZED COSTS

Capitalized costs relating to oil and gas producing activities and related accumulated DD&A were as follows:

millionsUnited StatesInternationalTotalDecember 31, 2024  Proved properties$91,017 $17,072 $108,089 Unproved properties 13,626 159 13,785 Total capitalized costs (a)104,643 17,231 121,874 Proved properties depreciation, depletion and amortization(45,268)(13,437)(58,705)Unproved properties valuation(3,598)— (3,598)Total Accumulated depreciation, depletion and amortization(48,866)(13,437)(62,303)Net capitalized costs$55,777 $3,794 $59,571 December 31, 2023Proved properties$78,188 $16,582 $94,770 Unproved properties14,298 146 14,444 Total capitalized costs (a)92,486 16,728 109,214 Proved properties depreciation, depletion and amort