Oxy Open to More Permian JVs, and Interest Growing in West Texas DAC Project

Buoyed by a supportive commodity price environment, Occidental Petroleum Corp. claimed its highest free cash flow since the turn of the century, with production at the high end of guidance even with extended downtime from Hurricane Ida.

CEO Vicki Hollub and her executive team shared the third quarter results during a wide-ranging conference call.

Hurricane Ida, which stormed through the Gulf of Mexico (GOM) in late August, cut production and led to higher-than-expected domestic operating costs. However, the damaging storm failed to disrupt progress in the mainstay Permian Basin, where output climbed while the number of rigs fell.

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