The United States is the heart of Occidental's oil and gas business. As of December 31, 2015, our net developed and undeveloped oil and gas assets in the U.S. encompassed nearly 3.8 million net acres.
Occidental's U.S. business is focused in the
Permian Basin of West Texas and southeast New Mexico, where we are the largest operator and the largest oil producer with approximately 13 percent net share of the total oil production in the basin. As a leading acreage holder with nearly 5.4 million gross acres, Occidental has over 13,000 company operated gross oil and gas wells and we produce from every producible formation in the Permian Basin.
Active in the Permian for more than 30 years, Occidental operates more carbon dioxide (CO2) floods than any other CO2 flood operator. As the largest producer and industry leader for CO2 flooding in the Permian, Occidental has seen steady, robust growth in miscible CO2 enhanced oil recovery (EOR) production over the past three decades.
Occidental also has production in South Texas including the Eagle Ford Shale.