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Permian E&P Bucking The Trend; Plan to Increasing Drilling & Fracs in 2026
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For 2026, management outlines a total company CapEx framework of $6.3B–$6.7B (ex-Chem), where the swing factor is up to $400MM of incremental investment in short-cycle, high-return projects, described as being primarily in the Permian. This flexibility is explicitly tied to the macro environment and is positioned as OXY’s main growth lever. Management also confirms the production impact of this range should be “close to flat to potentially up to 2% growth,” and that…
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