On November 12, 2024, Occidental Petroleum Corporation (NYSE: OXY), a major energy company with operations primarily in the United States, the Middle East, and North Africa, reported its financial results for the third quarter ended September 30, 2024. The company announced a net income attributable to common stockholders of $964 million, or $0.98 per diluted share, and an adjusted income of $977 million, or $1.00 per diluted share. Occidental's strong operational performance was highlighted by a record quarterly operating cash flow of $3.8 billion and a free cash flow before working capital of $1.5 billion. The company's total production for the quarter was 1,412 Mboed, surpassing the mid-point of guidance by 22 Mboed. Occidental also reported significant progress in its debt reduction efforts, repaying $4.0 billion and achieving nearly 90% of...Show More

On November 12, 2024, Occidental Petroleum Corporation (NYSE: OXY), a major energy company with operations primarily in the United States, the Middle East, and North Africa, reported its financial results for the third quarter ended September 30, 2024. The company announced a net income attributable to common stockholders of $964 million, or $0.98 per diluted share, and an adjusted income of $977 million, or $1.00 per diluted share. Occidental's strong operational performance was highlighted by a record quarterly operating cash flow of $3.8 billion and a free cash flow before working capital of $1.5 billion. The company's total production for the quarter was 1,412 Mboed, surpassing the mid-point of guidance by 22 Mboed. Occidental also reported significant progress in its debt reduction efforts, repaying $4.0 billion and achieving nearly 90% of its short-term debt reduction target. The company's President and CEO, Vicki Hollub, noted the successful integration of CrownRock and the strong performance across all segments. The financial report included detailed information on the company's oil and gas, chemical, and midstream and marketing segments, as well as non-GAAP financial measures and forward-looking statements.