Oxy:Why AI and Carbon Capture May Be the Only Path Forward for U.S. Oil Production

The U.S. oil and gas sector has defied the odds for over a decade—unlocking shale, scaling production, and securing global energy influence. But that growth engine may be running out of steam. According to Occidental Petroleum CEO Vicki Hollub, unless the industry embraces artificial intelligence and carbon capture technologies on a larger scale, domestic oil output could hit a production plateau as early as 2027.

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Occidental Petroleum’s U.S. Oil & Gas Efficiency: Record U.S. Production

Occidental Petroleum (NYSE: OXY) continues to demonstrate strong capital efficiency and operational performance in its U.S. oil & gas operations. The company’s latest 4Q 2024 earnings report highlights record-breaking production, strategic cost control, and robust reserves replacement, reinforcing OXY’s position as a leading low-cost operator in the industry.

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Occidental’s Asset Divestiture: TCEQ Owner Transfers to OWL Operating & Sabalo Energy

Occidental Petroleum (Oxy) continues to execute its strategic asset divestiture plan with the sale of its Texas and New Mexico assets to Permian Resources for approximately $818 million. This move is a crucial step in Oxy’s plan to finance its $12 billion acquisition of CrownRock, further consolidating its presence in the Permian Basin. As part of this transition, multiple facility ownership transfers have been documented in the Texas Commission on Environmental Quality (TCEQ) database, with OWL Operating and Sabalo Energy emerging as the new operators of several key assets.

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Occidental’s Strategic Divestiture: Air Permits Transfer to Permian Resources Highlights Progress Toward Debt Reduction

As part of this process, air permits for several facilities in the Texas Delaware Basin were recently transferred from Occidental to Permian Resources. These permits, issued by the Texas Commission on Environmental Quality (TCEQ), cover facilities in Reeves County, a focal point of oil and gas production in the region. The transfer reflects the operational handover of approximately 29,500 net acres of productive land.

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Unlocking the Future of Shale Development: Occidental Petroleum’s Focus on Secondary Bench Development

In the ever-evolving landscape of oil and gas, Occidental Petroleum (Oxy) continues to set itself apart as a pioneer in unconventional resource development. Through its strategic focus on secondary bench development, Oxy is maximizing resource recovery, extending the economic life of its assets, and pushing the boundaries of operational efficiency in U.S. shale plays. This approach exemplifies how advanced technology and innovative workflows are shaping the future of energy production.

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Breaking New Ground: Oxy Delaware 6 well program delivers 1.2 million barrels of oil in the first 90 days

Occidental Petroleum has once again demonstrated why it’s a leader in the oil and gas industry, achieving remarkable operational milestones during the third quarter of 2024. With record-breaking performances in the Permian Basin, cutting-edge advancements in the DJ Basin, and continuous improvements in drilling efficiency, Occidental is setting new benchmarks for innovation, productivity, and operational excellence. Here’s a closer look at their latest accomplishments.

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