Oil and natural gas operations are the core of Oxy's business.
The company is well-positioned for success in today's dynamic and complex business environment. Oxy's focuses on large, high-potential, "legacy" oil and gas assets in three core geographic regions, and invests only in projects that meet the company's stringent financial criteria. Reflecting both the effectiveness of this strategy and the quality of its assets, Oxy is among the industry's most profitable producers.
Oxy increases its proved oil and natural gas reserves through the following:
- Strategic acquisitions near established producing areas further expand the company's position in its three core regions;
- Enhanced oil recovery techniques extend the life of mature oil and gas fields and help to reach and extract some of the least accessible reserves; and
- Exploration in targeted areas, also utilizing advanced technologies, reveals previously untapped oil and gas reservoirs.