Houston-based Occidental Petroleum said recently its forecast for 2024 fullyear production remains 1,290,000 to 1,340,000 boed. In its second quarter report, Occidental said its 2Q production was 1,258,000 boed – up from 1,172,000 boed in 1Q. Oxy’s 2Q production in Permian Basin (587,000 boed) and Gulf of Mexico both exceeded midpoint of guidance. U.S. oil production in 2Q was 553,000 barrels per day – increases of 13 percent from 1Q and 6 percent from 2023Q2.
Production for 3Q is forecast to be 1,370,000 to 1,410,000 boed, which includes Barilla Draw in Delaware Basin that will be sold to Permian Resources.
“The strength of our operational performance resulted in impressive financial results for the second quarter of 2024,” Vicki Hollub, president and CEO, said Aug. 7. “We are excited to continue building on this positive momentum across our deep and diverse asset portfolio with the addition of Crown Rock.”