Oil and natural gas operations are the core of Oxy’s business.
Our exploration and production activities are concentrated in three geographic regions: the United States, the Middle East region and Latin America. In each of these regions, we focus on long-lived, “legacy” oil and gas assets with long-term production growth potential.
Oxy is well-positioned for success in today’s dynamic and complex business environment. We strive to manage production costs effectively and to achieve exemplary safety and environmental performance. We invest only in projects that meet the company’s stringent financial criteria and complement existing assets. Reflecting both the effectiveness of this strategy and the quality of our assets, Oxy is among the industry’s most profitable producers.
Oxy increases its proved oil and natural gas reserves in three primary ways:
- Strategic acquisitions near established producing locations further expand our position in our three core geographic regions
- Improved recovery and enhanced recovery techniques extend the life of mature oil and gas fields and help to extract some of the hardest-to-recover reserves
- Exploration in targeted areas reveals previously untapped oil and gas reservoirs