OXY
Occidental Petroleum Corporation38.92
-1.27-3.16%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
CapEx efficiencies enable growth
Q&A unpacked the $550M CapEx cut versus prior soft guide, pinning $400M on U.S. onshore efficiencies—longer laterals, simul-fracs, more wells per pad—allowing lower rigs/fracs yet 1% production growth without reallocations. GOA waterfloods like Horn Mountain promise sub-10% declines by 2030, sustaining ~130 MBOE/d long-term. Sustaining CapEx hits $4.1B at $40 oil, down from 2025 despite higher output. Sunil targets $10B debt before buybacks; STRATOS eyes $90-130M EBITDA by late 2028. Vicki cautioned on near-term oil but sees balance by 2027. Efficiencies roll structural into 2027. Investors watch decline mitigation.
Key Stats
Market Cap
38.34BP/E (TTM)
28.62Basic EPS (TTM)
1.36Dividend Yield
0.02%Recent Filings
8-K
Upsizes note tenders to $1.2B
Occidental upsized its tender offers for five senior note series to a $1.2B cap after early tenders hit the limit, accepting $21.5M zero-coupon 2036s, $843M 6.125% 2031s, and $335M 6.625% 2030s at premiums yielding $612-$1,087 per $1,000. Executed Supplemental Indenture eliminates 2031 note covenants, cuts redemption notice to five business days. Tenders settle March 9. Debt shrinks selectively.
8-K
OXY tenders $700M notes
Occidental launched cash tender offers for five series of senior notes and debentures, targeting up to $700 million aggregate principal—$58 million sub-cap on zero-coupon 2036 notes—expiring March 19, 2026. Early tenders by March 4 snag $30 premiums per $1,000. Funded by cash, including January chemical unit sale proceeds. Consent solicitations for four series nix covenants; offers hinge on conditions.
10-K
FY2025 results
Occidental delivered FY2025 results amid plunging oil prices, with WTI averaging $64.81/bbl (down 14% y/y) and Brent $68.18/bbl (down 15% y/y), yet boosted total proved reserves slightly to 4,603 MMboe from 4,612 MMboe while sustaining production at 1,434 Mboe/d (up 8% y/y, driven by full-year CrownRock contribution). Q4 sales volumes held steady sequentially, underscoring Permian strength (786 Mboe/d, up 18% y/y) despite lower realizations ($64.60/bbl oil y/y decline); lease operating expense improved to $8.94/Boe (down from $9.75/Boe). Debt fell $4B to $20.4B face value, with $2B cash bolstering liquidity; capex focused $5.6B on oil/gas amid $0.7B STRATOS push. Q4 accelerated deleveraging momentum. Volatile commodity prices threaten results.
8-K
Q4 loss, production beat
Occidental reported Q4 2025 net loss of $68 million ($0.07/share) but adjusted income of $315 million ($0.31/share), hit by OxyChem sale charges after closing January 2, 2026. Production topped guidance at 1,481 Mboed; debt slashed $5.8 billion to $15.0 billion. Dividend hiked 8% to $0.26/share. Balance sheet strengthened.
8-K
OxyChem sale completed
Occidental Petroleum completed the OxyChem sale on January 2, 2026, shifting its results to discontinued operations in the Q4 2025 10-K. Q4 realized oil prices hit $58.99/Bbl worldwide, with diluted shares at 1,002.9 million; adjusted tax rate eyes 35-37% for continuing ops. OxyChem divestiture streamlines core energy focus.
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