Occidental Petroleum formally unveiled the project it now calls “Stratos,” a direct air capture (DAC) facility foundational to the company’s future ambitions. Oxy was also approved by the Railroad Commission of Texas for a 7 mile CO2 export pipeline in Ector County Texas.
Permian (Basin) still has enough additional oil to develop that will continue to grow over the next few years – Vicki Hollub
Occidental Petroleum Corp. has signed a deal to buy Canadian company Carbon Engineering Ltd. for US$1.1 billion.
Permian, Rockies & Other Domestic and Gulf of Mexico daily production volumes all exceeded guidance at 582 Mboed, 273 Mboed and 135 Mboed, respectively.
80 percent of Occidental’s production is in the United States delivered higher operability and better-than-expected new well performance particularly in our two new drilling space units in New Mexico.
Occidental’s U.S. business is focused in the Permian Basin of West Texas and southeast New Mexico. Oxy USA Inc. ranks #6 in wells drilled in 2022 with 288 wells drilled in the Mid Continent of the US. OXY USA operated 22 drilling rigs and drilled 132 wells in North America in Q1 2023.
OxyChem, a top global manufacturer of chlorine and caustic soda, is contemplating a strategic initiative to modernize and expand its existing chlorine and caustic soda manufacturing complex with more efficient and effective technology. Last week Williams Pipeline Partners had a 14 mile pipeline approved to connect OxyChem Deer Park plant to Bayer plant.
Oxy was approved for an air permit by Texas Commission on Environmental Quality for a new mud plant located in Odessa. A mud plant is used to manipulate (mix, dilute, treat, adjust) various drilling fluids to be used in wells supported by this Supply Base.
Oxy Low Carbon Ventures (OLCV) subsidiary and Weyerhaeuser Company (NYSE: WY) today announced an agreement for the evaluation and potential development of a carbon capture and sequestration project in Livingston Parish, Louisiana.
Occidental uses EOR processes such as carbon dioxide (CO2) flooding to significantly extend the economic life of producing fields
