OXY · News · 20260806N
Upstream Production Volume
OCCIDENTAL PETROLEUM CORP /DE/ · 2026-08-06 · Importance 46 · Surprise 42 · In source text
Second-quarter production exceeded Occidental's guidance, with global output rising primarily because of U.S. assets. Occidental expects 2027 production to remain broadly flat relative to 2026. In the Permian Basin, the company plans to reduce its rig count by three in the fourth quarter while bringing 15 new wells online. Advanced recovery techniques are intended to lower production declines and improve cash flow.
Key facts
- Occidental expects production levels in 2027 to be similar to 2026 (flat production). source
- Production exceeded guidance in Q2 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | unclear | probable | — | Occidental expects production levels in 2027 to be similar to 2026 (flat production). |