Occidental Petroleum Earnings Show the Difference a Year Makes with Oil Prices Up 85%

Occidental Petroleum reported better than expected fourth quarter earnings on Thursday from a year-ago loss on higher-than-forecast U.S. production and crude prices. $OXY is the biggest Permian Basin producer. ExxonMobil, Chevron and Diamondback reported earlier. Beyond The Survival Mode In The Oil Patch Guidance on exploration and production spending is key since oil prices collapsed and natural gas prices have continued to soar. Now with the change in shift in US politics and the COVID affect with the recent Russian attack … Continue reading “Occidental Petroleum Earnings Show the Difference a Year Makes with Oil Prices Up 85%”

ConocoPhillips Buys Shell’s Delaware Basin Assets for $9.5 bln in Cash.

ConocoPhillips continues to expand in the Permian Basin by purchasing Shell Enterprises’ $RDS.A Delaware Basin assets for $9.5 bln in cash. $COP is the largest U.S. based independent exploration and production firm based on production volumes. On Jan. 15, 2021, ConocoPhillips closed the $13 bln acquisition of Concho.

ConocoPhillips Raises Production After Concho’s $13.3 billion Acquisition

ConocoPhillips reported better than expected fourth quarter earnings before the market opened Tuesday on higher production. Houston based $COP is the largest U.S. based independent exploration and production firm based on production volumes. On Jan. 15, 2021, ConocoPhillips closed the acquisition of Concho.

S&P Puts Big Oil Companies On Negative Ratings Watch

Rating agancy S&P on Tuesday puts the majority major oil companies on negative ratings watch or lowered their outlook. Many of the energy sector has massive debt exposure which has exposed them to the lockdown economic collapse. To add salt we are seeing aggressive energy transition by the developed world.

Occidental Petroleum Posts Loss of $8.35 Billion in Second Quarter on Slashed EnergyPrices

Occidental Petroleum reported for the second quarter on Monday a loss of $8.13 billion including impairment charges of $6.6 billion.  $OXY is the biggest Permian Basin producer is living on a knife edge. ExxonMobil , Chevron and Diamondback reported a much sounder position. Survival Mode In The Oil Patch Guidance on exploration and production spending is key since oil prices collapsed and natural gas prices have continued to fall, with U.S. drilling and production still at high levels despite the … Continue reading “Occidental Petroleum Posts Loss of $8.35 Billion in Second Quarter on Slashed EnergyPrices”

Occidental Petroleum in Survival Mode Reduces Capital, Operating and Overhead Costs Drastically

Occidental Petroleum reported a lower loss than expected Q1 loss Tuesday, However $OXY. as the biggest Permian Basin producer after the $38 billion Anadarko aquisition is living on a knife edge with the oil price collapse. ExxonMobil , Chevron and Diamondback reported a much sounder position.

Occidental Petroleum Increase Earnings and Production But Impacted By Lower Gas Prices

Occidental Petroleum reported better than expected Q2 earnings Wednesday $OXY will become the biggest Permian Basin producer after Anadarko shareholders vote Aug. 8 on the $38 billion sale. ExxonMobil and Chevron report Friday