Occidental Petroleum Corporation (Occidental) reported its financial results for the second quarter of 2024 on August 7, 2024. The company announced a net income and adjusted income attributable to common stockholders of $1.0 billion, or $1.03 per diluted share. This performance was attributed to strong operational results, including an operating cash flow of $2.4 billion and a free cash flow before working capital of $1.3 billion. Occidental's total production for the quarter was 1,258 Mboed, surpassing the mid-point of guidance by 6 Mboed. The company's midstream and marketing segment exceeded pre-tax adjusted income guidance by over $180 million, while OxyChem's pre-tax income was $296 million. Despite planning to divest 15 Mboed in the fourth quarter, Occidental is maintaining its full-year production guidance. The company's President and CEO, Vicki Hollub, expressed confidence in building on the positive momentum with the addition of CrownRock. The financial report also included detailed operational results for various segments, including oil and gas, OxyChem, and midstream and marketing, as well as forward-looking statements and non-GAAP financial measures.

Occidental Petroleum Corporation (Occidental) reported its financial results for the second quarter of 2024 on August 7, 2024. The company announced a net income and adjusted income attributable to common stockholders of $1.0 billion, or $1.03 per diluted share. This performance was attributed to strong operational results, including an operating cash flow of $2.4 billion and a free cash flow before working capital of $1.3 billion. Occidental's total production for the quarter was 1,258 Mboed, surpassing the mid-point of guidance by 6 Mboed. The company's midstream and marketing segment exceeded pre-tax adjusted income guidance by over $180 million, while OxyChem's pre-tax income was $296 million. Despite planning to divest 15 Mboed in the fourth quarter, Occidental is maintaining its full-year production guidance. The company's President and CEO, Vicki Hollub, expressed confidence in building on the positive momentum with the addition of CrownRock. The financial report also included detailed operational results for various segments, including oil and gas, OxyChem, and midstream and marketing, as well as forward-looking statements and non-GAAP financial measures.