Occidental Petroleum sees flat 2026 production, lower spending [Yahoo! Finance]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Yahoo! Finance
The company projects 2026 production to range from flat to 2% growth, primarily driven by its unconventional Permian Basin operations, according to Chief Financial Officer Sunil Mathew during a conference call. This announcement came a day after Occidental reported better-than-expected third-quarter profits due to higher output. For 2026, Occidental forecasts capital expenditure between $6.3 billion and $6.7 billion, lower than its 2025 projection of $7.1 billion to $7.3 billion. The company plans to invest up to $400 million in U.S. onshore operations in 2026, mainly in the Permian Basin and Rockies region. Mathew noted that allocating more capital to these projects would provide greater flexibility if economic conditions deteriorate. Occidental also intends to increase investment in the Gulf of Mexico and Oman by $250 million while reducing funding for its low-carbon portfolio. Mathew emphasized that Occidental remains focused on reducing its debt, which accumulated followi
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News
- Occidental Petroleum (OXY) Posts Strong Q3 Earnings, UBS Maintains Neutral Rating [Yahoo! Finance]Yahoo! Finance
- Occidental Petroleum (OXY): Assessing Valuation After Record Production, Lower Costs, and Dividend Hike Hopes [Yahoo! Finance]Yahoo! Finance
- Is Occidental Petroleum an Opportunity After Year-to-Date Slide and Energy Transition Headlines? [Yahoo! Finance]Yahoo! Finance
- Investors in Occidental Petroleum (NYSE:OXY) have seen impressive returns of 189% over the past five years [Yahoo! Finance]Yahoo! Finance
- Occidental Petroleum (NYSE:OXY) had its "outperform" rating reaffirmed by analysts at Raymond James Financial, Inc..MarketBeat
OXY
Earnings
- 11/10/25 - Beat
OXY
Sec Filings
- 11/10/25 - Form 10-Q
- 11/10/25 - Form 8-K
- 10/10/25 - Form 8-K
- OXY's page on the SEC website