Description

Occidental Petroleum: Why Enhanced Oil Recovery Could Become a Major Long-Term Value Driver!

Occidental Petroleum Corporation’s first quarter of 2026 results reflected operational resilience and financial progress amid a volatile macro environment marked notably by geopolitical disruptions in the Middle East. The company reported production of 1.426 million barrels of oil equivalent (BOE) per day, exceeding guidance largely due to strong new well performance, uptime in the Permian Basin, Rockies, and Gulf of America, and cost efficiencies, especially in domestic lease operating expenses that improved by 5% relative to guidance. Occidental’s focus on a predominantly U.S.-centric portfolio, representing 83% of production and 88% of resources, showcased the company’s strategic pivot toward operating in more stable environments, a move underpinned by a decade of portfolio transformation involving asset divestitures and capital reallocation to core, high-quality, and low-cost positions. Financially, adjusted earnings stood at $1.06 per diluted share while reported earnings were $3.