Occidental Petroleum Corporation (Occidental) has released a summary of earnings considerations that are expected to impact its results for the second quarter of 2025. The company has highlighted several notable items, including production curtailments in its Gulf of America assets, leading to estimated sales volumes of 125 thousand barrels of oil equivalent per day (mboed) for the quarter. Despite these production challenges, total company production is anticipated to remain within the guidance range.
Additionally, Occidental expects its adjusted effective tax rate to be in the range of 35-37%, attributed to a shift in the jurisdictional mix of income driven by lower anticipated full-year oil prices compared to original expectations.
In terms of average diluted shares outstanding for the second quarter of 2025, Occidental reported a figure of 1,010.4 million shares.
Furthermore, the company provided details on its average realized prices and index prices for the quarter, including average realized prices for oil, natural gas liquids (NGL), and natural gas in both the United States and international markets. The average realized prices as a percentage of average index prices were also disclosed, indicating the company's performance relative to market benchmarks.
For instance, the average realized price of oil in the United States was $62.83 per barrel, while the international average realized price stood at $68.88 per barrel, resulting in a total worldwide average realized price of $63.76 per barrel. In the NGL segment, the average realized prices were $20.05 per barrel in the U.S. and $25.72 per barrel internationally, with a total worldwide average realized price of $20.71 per barrel. As for natural gas, the average realized price was $1.33 per thousand cubic feet (mcf) in the U.S. and $1.90 per mcf internationally, leading to a total worldwide average realized price of $1.46 per mcf.
Occidental also provided average index prices for WTI oil, Brent oil, and NYMEX gas, allowing for a comparison with its realized prices.
These figures and insights into Occidental's performance in the second quarter of 2025 provide a detailed look at the company's operational and financial metrics, offering investors and stakeholders valuable information for assessing its performance in the period. Following these announcements, the company's shares moved -2.49%, and are now trading at a price of $45.1548. For more information, read the company's full 8-K submission here.
