Stratos is operational, it reportedly will capable of capturing 500,000 metric tons of carbon dioxide a year and become the largest operating DAC plant in the world. By using Stratos, Occidental expects to increase its oil production in the Permian Basin.
The Occidental Petroleum Corporation’s (OXY) second-quarter earnings conference call slides provide detailed insights into the company’s activities and performance in the Permian Basin.
Occidental’s extensive acreage in the Permian Basin and the technological advancements that are driving efficiency and long-term profitability. By examining these facets, we gain insight into how Occidental is positioning itself for sustained success in a competitive market landscape.
Occidental Petroleum has demonstrated a remarkable turnaround and presents a strong case for potential future gains, driven by strategic debt management, dividend growth, and significant investor backing.
Occidental’s operational excellence and strategic execution across all business segments. Vicki Hollub, President and CEO, is quoted highlighting the fundamental importance of operational excellence to Occidental’s success.
Occidental Petroleum (OXY.N), is exploring a sale of a part of its operations in the Permian Basin that could fetch more than $1 billion for the energy producer, according to people familiar with the matter.
Occidental Petroleum Corporation is a US based oil and gas producer with 1.2mm barrels per day produced in 2023 predominantly in the Permian basin, that’s around 10% of total US production, with around 4bln proved reserves barrels of oil.
Occidental Petroleum’s “large position” in the Delaware Basin allowed the oil giant to achieve “efficiencies” of scale while expanding to other drill sites. She further notes that CrownRock’s inventory “helps to improve” Oxy’s own, and this synergy helps to accelerate cash flow generation, which she describes as “an acceleration of value” for shareholders. In the near term, the company is focusing on paying down debt and eventually resume repurchasing shares.
Oxy has a proprietary, physics-based approach to well development that it calls Oxy Drilling Dynamics, which improves drilling rates, lowers well costs and reduces inefficient rig energy
Occidental Petroleum Corp. will reduce spending on US shale operations as it seeks to improve cash flow to repay debt, resulting in largely flat production this year. OXY USA Inc. ranks #4 in wells drilled in 2023 with 590 wells drilled in the US
