Occidental's U.S. business is focused in the Permian Basin of West Texas and southeast New Mexico, one of the largest and most active oil basins in the United States, accounting for approximately 30 percent of the total U.S. oil production.
Occidental is the No. 1 producer in the Permian Basin, with operations focused on the Delaware and Midland basins, as well as the Central Basin Platform. Aventine, our one-of-a-kind logistics and maintenance hub in New Mexico, provides a competitive advantage in ensuring our operations have real-time, cost-effective access to the equipment and supplies they need.
Occidental manages operations in the Permian Basin through two businesses:
Permian Resources, which consists of growth-oriented unconventional opportunities, and
Permian EOR, which utilizes enhanced oil recovery (EOR) techniques, such as carbon dioxide flooding and waterfloods.
Additionally in the Permian, Occidental's
Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores hydrocarbons and other commodities.
The synergies between our Permian Resources and EOR operations allow us to optimize production, while our marketing operations provide key gathering and takeaway access to multiple markets. This gives Occidental a unique competitive advantage in the Permian Basin.