Houston-based Occidental Petroleum said last week three of the four regions of its oil business topped forecasts for production in 2023Q2. Production in Permian Basin averaged 582,000 boed – up slightly from 2023Q1 and 4,000 boed above high end of guidance. Well productivity in Delaware Basin is running 11 percent ahead of 2022.
Vicki Hollub, president and CEO, said Aug. 2, “Our team’s technical achievements have positioned us for a strong second half of 2023, giving us confidence to raise fullyear oil and gas production guidance.”
Oxy’s total average global production of 1.218 million boed for 2Q exceeded midpoint of guidance by 42,000 boed.
