Occidental Petroleum reported a decrease in net income for the third quarter of 2024, with income from continuing operations at $1.14 billion compared to $1.375 billion in the same period of 2023. The diluted earnings per share (EPS) also declined to $0.98 from $1.20 year-on-year. The company's net sales for the quarter were $7.173 billion, showing a slight increase from $7.158 billion in the previous year. The oil and gas segment was the largest contributor to net sales, generating $5.697 billion. Occidental's business development included a notable $554 million in cash received from the exercise of common stock warrants and the acquisition of CrownRock, which added 29.56 million shares to the common stock. The company also reported a $489 million gain from the sale of limited partner units in WES and a $27 million fair value gain on the TerraLithium equity investment. Looking ahead, Occidental's future plans involve managing costs related to the CrownRock Acquisition and continuing to streamline its operations, as evidenced by the sale of non-core assets and the gains from asset divestitures.

Occidental Petroleum reported a decrease in net income for the third quarter of 2024, with income from continuing operations at $1.14 billion compared to $1.375 billion in the same period of 2023. The diluted earnings per share (EPS) also declined to $0.98 from $1.20 year-on-year. The company's net sales for the quarter were $7.173 billion, showing a slight increase from $7.158 billion in the previous year. The oil and gas segment was the largest contributor to net sales, generating $5.697 billion. Occidental's business development included a notable $554 million in cash received from the exercise of common stock warrants and the acquisition of CrownRock, which added 29.56 million shares to the common stock. The company also reported a $489 million gain from the sale of limited partner units in WES and a $27 million fair value gain on the TerraLithium equity investment. Looking ahead, Occidental's future plans involve managing costs related to the CrownRock Acquisition and continuing to streamline its operations, as evidenced by the sale of non-core assets and the gains from asset divestitures.