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Q4 2009 Earnings Conference Call – Occidental Petroleum Corp

Occidental Petroleum Corp · Jan 28, 2010 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 1
    Fourth Quarter 2009 Earnings Conference Call January 28, 2010
  2. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 2
    2 Fourth Quarter 2009 Earnings Highlights Core Results - 1.1 Billion vs. 957 Million in 4Q08 Core EPS 1.30 (diluted) vs. 1.18 in 4Q08. Net Income - 938 Million vs. 443 Million in 4Q08 EPS 1.15 (diluted) vs. 0.55 in 4Q08. 4Q09…
  3. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 3
    3 Fourth Quarter 2009 Earnings Oil & Gas Segment Variance Analysis 4Q09 vs. 4Q08 Core Results for 4Q09 of 1.8 B vs. 1.0 B in 4Q08 The increase was due to higher crude oil prices and sales volumes and lower operating expenses. 83 35…
  4. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 4
    4 Fourth Quarter 2009 Earnings Oil & Gas Segment 4Q09 4Q08 Reported Segment Earnings ( mm) 1,643 339 WTI Oil Price (/bbl) 76.19 58.73 NYMEX Gas Price (/mcf) 4.29 6.97 Oxys Realized Prices Worldwide Oil (/bbl) 69.39 53.52 US…
  5. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 5
    5 Fourth Quarter 2009 Earnings Oil & Gas Segment Production 4Q09 4Q08 Oil and Gas Sales Volumes (mboe/d) 650 620 + 4.8% year-over-year or 30 mboe/d. Year-over-year sales volume increase includes: + 23 mboe/d from Oman and…
  6. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 6
    6 Fourth Quarter 2009 Earnings Oil & Gas Segment Production 4Q09 3Q09 Oil and Gas Sales Volumes (mboe/d) 650 628 + 3.5% quarter-over-quarter or 22 mboe/d. Sequential sales volume increase includes: Bahrain production and…
  7. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 7
    7 Fourth Quarter 2009 Earnings Chemical Segment Variance Analysis 4Q09 vs. 4Q08 Core Results for 4Q09 of 33 mm vs. 217 mm in 4Q08 Reflects the continued weakness in most domestic markets, but in particular U.S. housing, durable…
  8. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 8
    8 Fourth Quarter 2009 Earnings Midstream Segment Variance Analysis 4Q09 vs. 4Q08 Core Results for 4Q09 of 81 mm vs. 170 mm in 4Q08 The decrease was due to lower year-over-year margins in the marketing business, partially offset by…
  9. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 9
    9 Fourth Quarter 2009 Earnings Full Year 2009 Results YTD2009 YTD2008 Net Income ( mm) 2,915 6,857 EPS (diluted) 3.58 8.34 Core Results ( mm) 3,083 7,348 EPS (diluted) 3.78 8.94 Oil and Gas Sales Volumes (mboe/d) 645 601 +7.3%…
  10. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 10
    10 Fourth Quarter 2009 Earnings Full Year 2009 Cash Flow 7,600 3,600 ( in millions) Cash Flow From Operations 5,800 1,750 1,065 40 5 1,230 Beginning Debt Cash Issuance 1,800 740 12/31/08 Debt Reduction 700…
  11. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 11
    11 Fourth Quarter 2009 Earnings Shares Outstanding, Debt and Returns Shares Outstanding (mm) 2009 12/31/09 Weighted Average Basic 811.3 Weighted Average Diluted 813.8 Basic Shares Outstanding 812.0 Diluted Shares Outstanding…
  12. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 12
    12 Fourth Quarter 2009 Earnings 2010 Reporting Changes Beginning in 2010, we are making three reporting changes which will impact comparability between years. 1 Historically, our production volumes have been reported as a mix of…
  13. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 13
    13 Fourth Quarter 2009 Earnings 2010 Reporting Changes 2 We have combined most of our gas production in the mid-continental regions of the US into a single business unit called Midcontinent Gas. This was done in order to take…
  14. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 14
    14 Fourth Quarter 2009 Earnings 2010 Reporting Changes 3 Capitalized CO2 Oxy's policy regarding tertiary recovery is to capitalize costs, such as CO2, when they support development of proved reserves and generally expense these…
  15. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 15
    15 Fourth Quarter 2009 Earnings 1Q10 Outlook We expect oil and gas sales volumes to increase from the reformatted 4Q09 amount of 722 mboe/d to about 730 to 740 mboe/d in 1Q10 at about current oil prices. Production increases will…
  16. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 16
    16 Fourth Quarter 2009 Earnings 1Q10 Outlook For the Chemical segment: The international markets remain solid; In the U.S., we have a competitive advantage against foreign products; however, the housing and construction markets…
  17. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 17
    17 Fourth Quarter 2009 Earnings 2010 Capital Spending and DD&A We expect capital spending for the total year of 2010 to be about 4.3 billion. Our capital program will continue to focus on ensuring that our returns remain well above…
  18. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 18
    18 Fourth Quarter 2009 Earnings California Exploration Excluding the Kern County discovery: Over the course of a couple of years, we have drilled 39 exploration wells seeking non- traditional hydrocarbon bearing zones in…
  19. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 19
    19 Fourth Quarter 2009 Earnings California Exploration Kern County Discovery KERN COUNTY DISCOVERY AREA The discovery, which is near Elk Hills, is not below any producing zones. 4Q09 3Q09 2Q09 1Q09 Gross Production* Natural…
  20. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 20
    20 Fourth Quarter 2009 Earnings California Exploration Kern County Discovery Sacramento Valley Cumulative gross production Sacramento since the start of production through 12/31/09 has been 19.4 bcf of gas and 1.5 mm barrels of…
  21. Q4 2009 Earnings Conference Call – Occidental Petroleum Corp – slide 21
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