Occidental Petroleum Corporation (Occidental) has released a summary of its earnings considerations for the fourth quarter of 2024. The average diluted shares outstanding for the quarter were reported to be 983.9 million shares.
In terms of average realized prices, for oil in the United States, it was $69.27 per barrel, and internationally, it was $72.55 per barrel, with a worldwide average of $69.73 per barrel. For natural gas liquids (NGL), the average price in the United States was $21.14 per barrel, internationally it was $27.11 per barrel, and the worldwide average was $21.80 per barrel. As for natural gas, the average price in the United States was $1.26 per mcf, internationally it was $1.88 per mcf, and the worldwide average was $1.41 per mcf.
The average index prices for WTI oil, Brent oil, and NYMEX gas were $70.27 per barrel, $73.97 per barrel, and $2.66 per mcf, respectively. Additionally, the report provides insights into the average realized prices as a percentage of the average index prices. Worldwide oil was reported to be 99% of the average WTI, 94% of the average Brent, and worldwide NGL was 31% of the average WTI. Domestic natural gas was 47% of the average NYMEX.
These figures provide a detailed look at Occidental's performance in the fourth quarter of 2024 and offer valuable insights into the company's earnings considerations. Today the company's shares have moved 0.2% to a price of $51.3. For more information, read the company's full 8-K submission here.
