Oxy focuses on large, long-lived oil and gas assets with long-term growth potential. We invest only in opportunities that we believe will complement existing assets in our three core producing regions and will meet the company’s threshold for returns on invested capital.
Core Regions
Oxy operates in three geographic regions: the United States, the Middle East region and Latin America.
Our U.S. operations are concentrated in the Permian Basin of West Texas and southeast New Mexico; California; and our Midcontinent properties, primarily in the Piceance Basin in Colorado, the Hugoton Field in Kansas and Oklahoma, the Williston Basin in North Dakota, and South Texas. Collectively, these U.S. operations account for more than 60 percent of Oxy’s total worldwide oil and gas production and worldwide proved reserves.
Oxy’s Middle East region operations in Bahrain, Iraq, Libya, Oman, Qatar and Yemen collectively provide more than one-third of the company’s total worldwide production and proved reserves. Latin America operations — primarily in Colombia — account for the balance of Oxy's production and proved reserves.
Regional highlights include:
- Largest onshore producer of oil and liquids combined in the 48 contiguous United States, according to industry research firm Wood MacKenzie
- Largest oil producer in Texas
- Largest natural gas producer and largest oil and gas producer in California on a gross-operated barrels of oil equivalent basis
- One of the largest oil producers in Oman and the second-largest oil producer offshore Qatar
- Participating in the transborder Dolphin Gas Project – one of the largest energy initiatives ever undertaken in the Middle East
- Working with the Abu Dhabi National Oil Company (ADNOC) on the Al Hosn Gas Project to develop one of the largest natural gas fields in the Middle East
Reserves
Oxy consistently replenishes and expands reserves through strategic acquisitions, improved recovery and enhanced recovery techniques, and focused exploration.
Technology
Oxy invests in state-of-the-art equipment and tools to find, develop, produce and deliver energy resources.
In both domestic and international operations, Oxy is an acknowledged leader in cost-effectively increasing production from mature oil and gas fields and accessing hard-to-recover reserves through the application of enhanced oil recovery (EOR) techniques. Among these is carbon dioxide (CO2) flooding, commonly known as CO2 EOR, which can increase ultimate oil and associated gas recovery by 10 to 25 percent in the fields where it is employed. Circulating in a “closed loop” process, over time virtually all of the CO2 is safely and securely sequestered in the reservoir. In addition to boosting oil and gas production, this technology provides environmental benefits.