Company Profile

 

Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization.

Occidental’s midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities in support of Occidental’s businesses.

Occidental's wholly owned subsidiary OxyChem manufactures and markets basic chemicals and vinyls.

Key business strategy elements:

  • Increase oil and gas segment production through development programs focused on large, long-lived conventional and unconventional oil and gas assets with long-term growth potential, and acquisitions;

  • Focus on lowering finding and developing, production and maintenance costs;

  • Allocate and deploy capital with a focus on achieving returns well in excess of Occidental's cost of capital;

  • Maintain financial discipline and a strong balance sheet; and

  • Provide consistent dividend growth.

    For Occidental quarterly financial data, click here.

    Market Capitalization [1]

    $51.6 billion (market close on 12/31/2015)

    Selected Financial Data [2]

    In millions, except per-share amounts

    20152014

    2013

    ​2012

    ​2011

    ​Net sales

    $12,480

    ​$19,312

    $20,170

    $20,100

    ​$20,001

    Net income

    (7,829)

    ​​616

    ​5,903

    4,598

    6,771

    EPS (diluted)

    (10.23)

    ​​0.79

    7.32

    5.67

    8.32

    Dividend per common share

    2.97

    ​​2.88

    ​2.56

    2.16

    1.84

    [1] Market capitalization is calculated by multiplying the year-end total shares of common stock outstanding, net of shares held as treasury stock, by the year-end closing stock price.
    [2] See the MD&A section of the 10-K and the Notes to Consolidated Financial Statements for information regarding acquisitions and dispositions, discontinued operations and other items affecting comparability.

    Oil and Gas Highlights

    Occidental's oil and gas assets are concentrated in three core areas — the United States, the Middle East and Latin America.

    Oil and Gas Production (1)

    Thousand barrels of oil equivalent per day

     

    20152014

    2013

    ​% of Total

    ​United States [2]

    312

    292

    302

    48%

    Middle East

    303

    250

    258

    46%

    Latin America

    ​  37

      29

      31

    6%

    Total

    652

    571

     

    591

    Oil and Gas Proved Reserves  (1)

    Millions barrels of oil equivalent

    2015

    2014

    2013

    ​% of Total

    United States

    1,271

    1,781

    1,670

    63%

    Middle East

       849

       942

       976

    33%

    Latin America

         80

         96

         92

      4%

    Total

    2,200

    ​2,819

    2,738

    (1) For all periods presented, excludes production volumes and proved reserves from Argentine operations which were sold in February 2011 and California Resources which was separated on November 30, 2014 into a separate publicly traded company.
    (2) Excludes Hugoton Field (sold in April 2014) average daily production volumes of 6MBOE and  18MBOE for 2014 and  2013 respectively.

    (3)Excludes Williston (sold November 2015) average daily production volumes of 16MBOE and 18MBOE for 2015, 2015 and 2013, respectively.

    Investor Relations Contacts
    Corporate Headquarters
    Occidental Petroleum Corporation
    5 Greenway Plaza, Suite 110
    Houston, Texas 77046-0506
    Investor Relations      
    1230 Avenue of the Americas
    New York, New York 10020
    (212) 603-8111
    Richard A. Jackson
    Vice President Investor Relations
    Email