Occidental Petroleum Corp

OXY: XNYS (USA)
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Occidental Petroleum Earnings: Efficient Production Drives Fair Value Estimate Increase of 2%

Oxy's third-quarter net production increased 5% sequentially to 1,465 mboe/d. Cash operating costs decreased 9% sequentially to $14.28 per boe, while oil and gas capex decreased 14% sequentially to $1.3 billion. It used $1.3 billion of cash to pay down debt, and $400 million to pay out dividends.

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