Oxy focuses on large, long-lived "legacy" oil and gas assets where we can enhance production, and we invest only in projects we believe will generate above-cost-of-capital returns throughout the business cycle.
Core Regions
Oxy's U.S. operations in the Permian Basin of southwest Texas and southeast New Mexico, the Hugoton area of southwest Kansas, the Piceance Basin of western Colorado, and California account for 60 percent of the company's total worldwide oil and gas production.
Oxy's Middle East/North Africa operations in Libya, Oman, Qatar, United Arab Emirates and Yemen collectively provide more than one-quarter of the company's total worldwide production. Oxy's Latin America operations – in Argentina, Bolivia and Colombia – account for approximately 13 percent of Oxy's total production.
Regional highlights include:
- Oxy is the largest oil producer in Texas and New Mexico and the largest natural gas producer in California.
- In the Middle East, Oxy is the second-largest oil producer in both Oman and offshore Qatar, and a partner in the transborder Dolphin natural gas project – one of the largest energy initiatives ever undertaken in the region. Oxy also is a leading holder of exploration acreage in Libya.
- Oxy is one of the leading non-government-owned oil companies in Latin America, with major producing operations in Colombia and Argentina.
Technology
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-reach reserves by applying advanced technology such as 3-D reservoir visualization, geosteered horizontal drilling and enhanced oil recovery methods. We consistently replenish and expand reserves through strategic acquisitions, enhanced oil recovery and exploration.