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Updated Oct 13, 2026
Occidental Q3 2026 impacted by $94M hedge losses and temporary Gulf of America production curtailment.
Occidental's third quarter production remained within guidance despite a temporary Gulf of America curtailment in September caused by third-party pipeline constraints and maintenance activities, with partial production restored by quarter-end. Crude oil collar settlements reduced operating cash flow by $94 million. Realized oil prices averaged $85.91/bbl globally, tracking 100% of WTI and 94% of Brent, while natural gas realizations of $1.69/Mcf represented 54% of NYMEX, reflecting the company's hedging posture and commodity price environment during the quarter.
Tone: neutralRevenue
$21.6B
OXY 10-K · FY 2025
Revenue FY2024
$26.7B
Headquarters
Houston, TX
Profile
OXY 10-K Item 1 · Feb 18, 2026Occidental Petroleum is a Houston-based integrated energy company operating oil and gas exploration and production alongside midstream and marketing assets. The company also develops carbon management and storage solutions, including direct air capture and CCUS technologies. In January 2026, Occidental completed the sale of its chemicals subsidiary OxyChem to Berkshire Hathaway for $9.7 billion, sharpening its focus on upstream and low-carbon businesses.
Read filing description ↓ Collapse description ↑
The Company is focused on delivering a unique shareholder value proposition with its portfolio of oil and gas and midstream and marketing assets, as well as its ongoing development of carbon management and storage solutions and GHG emissions reduction efforts. The Company conducts its operations with a priority on HSE, sustainability and social responsibility. In order to maximize shareholder returns, the Company will: Maintain production base to preserve asset base integrity and longevity; Deliver a sustainable and growing dividend; Prioritize excess cash flow and proceeds from divestitures, including the OxyChem Transaction, for deleveraging until principal debt is approximately $14.3 billion, after which available cash will be allocated to opportunistic share repurchases and/or further net debt reduction; Enhance its asset base with investments in its cash-generative oil and gas business; and Advance integrated technologies in CO2, power and midstream to enable differentiated resource recovery and value. The Company believes that carbon removal technologies, including DAC and CCUS, can, with incentives necessary for their development and deployment, provide essential CO2 reductions to assist the world's transition to a lower carbon-intensive economy.
Primary products
- Oil
- NGL
- Natural gas
- Midstream and marketing services
- Carbon management and storage (DAC, CCUS)
Business segments
End markets
Geographies
Revenue commentary · FY 2025
Net sales declined from $22.6 billion in 2024 to $22.2 billion in 2025, driven primarily by lower average WTI and Brent crude oil prices year-over-year.
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