Occidental Petroleum Corp has reported $649 million or 64 cents per share in web earnings adjusted for nonrecurring gadgets for the third quarter.
That beat the Zacks Consensus Estimate – which averages forecasts by brokerage analysts – of 48 cents, as manufacturing exceeded the higher finish of the corporate’s steerage.
Internet revenue earlier than adjustment was $661 million, or $0.65 per diluted share, the Warren Buffett-backed firm stated in its quarterly report.
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Occidental maintained its dividend at $0.24 per share.
July-September output averaged 1.47 million barrels of oil equal per day (MMboepd). The Permian Basin accounted for 800,000 boepd. The Rockies and different United States belongings contributed 288,000 boepd, whereas the Gulf of America produced 139,000 boepd. Occidental derived 238,000 boepd from exterior the U.S.
Internet gross sales totaled $6.62 billion, down from $7.17 billion for Q3 2024.
Q3 oil and fuel pre-tax earnings was $1.3 billion. “Excluding gadgets affecting comparability, the rise in third quarter oil and fuel earnings, in comparison with the second quarter of 2025, was as a result of greater crude oil volumes and costs”, Occidental stated.
“For the third quarter of 2025, common WTI and Brent marker costs have been $64.93 per barrel and $68.14 per barrel, respectively. Common worldwide realized crude oil costs elevated by two % from the prior quarter to $64.78 per barrel. Common worldwide realized pure fuel liquids costs decreased by 5 % from the prior quarter to $19.60 per barrel. Common home realized fuel costs elevated by 11 % from the prior quarter to $1.48 per thousand cubic toes”.
Occidental Chemical Corp (OxyChem) generated $197 million in pre-tax earnings, down quarter-on-quarter as a result of decrease realized costs and volumes throughout most merchandise. These have been “partially offset by favorable uncooked materials prices”, Occidental stated.
Buffett’s holding firm Berkshire Hathaway Inc is within the technique of buying OxyChem for $9.7 billion. Berkshire will purchase all of OxyChem’s issued and excellent fairness pursuits in money, as introduced by the events October 2.
In the meantime midstream and advertising pre-tax earnings was $93 million for Q3. “In comparison with the second quarter of 2025, the lower in third quarter midstream and advertising earnings mirrored decrease Waha-to-Gulf-Coast fuel spreads and better bills as a result of enhance in actions within the low-carbon enterprise companies, partially offset by greater sulfur costs at Al Hosn”, Occidental stated.
Whole working money move was $2.8 billion. Working money move earlier than working capital was $3.2 billion.
Occidental ended Q3 with $2.16 billion in money and money equivalents. Present belongings totaled $8.81 billion.
Present liabilities stood at $9.42 billion together with $1.62 billion in present maturities from long-term debt. Occidental stated it had repaid $1.3 billion throughout Q3.
To contact the writer, electronic mail jov.onsat@rigzone.com
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