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Q1 Earnings Conference Call – Occidental Petroleum Corp

Occidental Petroleum Corp · Apr 29, 2010 · 18 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. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 1
    First Quarter 2010 Earnings Conference Call April 29, 2010
  2. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 2
    2 First Quarter 2010 Earnings Highlights Core Results - 1.1 Billion vs. 407 Million in 1Q09 Core EPS 1.32 (diluted) vs. 0.50 in 1Q09. Net Income - 1.1 Billion vs. 368 Million in 1Q09 EPS 1.31 (diluted) vs. 0.45 in 1Q09. For…
  3. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 3
    3 First Quarter 2010 Earnings Oil & Gas Segment Variance Analysis 1Q10 vs. 1Q09 Core Results for 1Q10 of 1.819 B vs. 553 mm in 1Q09 Results reflect significantly higher commodity prices and higher volumes, partially offset by fully…
  4. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 4
    4 First Quarter 2010 Earnings Oil & Gas Segment Variance Analysis 1Q10 vs. 4Q09 Core Results for 1Q10 of 1.819 B vs. 1.813 B in 4Q09 Similar sequential results reflect higher oil and natural gas prices, partially offset by increased…
  5. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 5
    5 First Quarter 2010 Earnings Oil & Gas Segment 1Q10 4Q09 Reported Segment Earnings ( mm) 1,819 1,643 WTI Oil Price (/bbl) 78.71 76.19 NYMEX Gas Price (/mcf) 5.39 4.29 Oxys Realized Prices Worldwide Oil (/bbl) 71.88 69.39 US…
  6. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 6
    6 First Quarter 2010 Earnings Oil & Gas Segment Variance Analysis 1Q10 vs. 4Q09 1Q10 4Q09 Oil and Gas Production Volumes (mboe/d) 743 717 sequential increase of over 3.5%. Sequential production volume increase includes: In…
  7. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 7
    7 First Quarter 2010 Earnings Oil & Gas Segment Variance Analysis 1Q10 vs. 4Q09 1Q10 4Q09 Oil and Gas Sales Volumes (mboe/d) 726 722 Sales volumes were lower than the production volumes due to the timing of liftings of 13 mboe/d…
  8. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 8
    8 First Quarter 2010 Earnings Oil & Gas Segment Variance Analysis 1Q10 vs. 4Q09 As a result of the factors discussed above 1Q10, compared to 4Q09 benefitted by: 174 million from higher prices; 43 million lower exploration expense…
  9. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 9
    9 First Quarter 2010 Earnings Chemical Segment Variance Analysis 1Q10 vs. 4Q09 Core Results for 1Q10 of 30 mm vs. 33 mm in 4Q09 Reflects the continued weakness in domestic markets, particularly in the housing and construction…
  10. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 10
    10 First Quarter 2010 Earnings Midstream Segment Variance Analysis 1Q10 vs. 4Q09 Core Results for 1Q10 of 94 mm vs. 81 mm in 4Q09 Increase in earnings was due to improved margins in the marketing and trading business, partially offset…
  11. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 11
    11 First Quarter 2010 Earnings Capital Spending Capital spending for the first quarter of 2010 was about 850 million. Capital expenditures by segment were 80 percent in Oil and Gas, 15 percent in Midstream with the remainder in…
  12. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 12
    12 First Quarter 2010 Earnings 2010 YTD Cash Flow Free Cash Flow for 1Q10 after capex and dividends but before acquisitions and debt reduction was about 1.1 billion. ( in millions) 3,400 850 300 Cash 270 Flow From 225 145…
  13. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 13
    13 First Quarter 2010 Earnings Shares Outstanding and Debt Shares Outstanding (mm) 1Q10 3/31/10 Weighted Average Basic 812.1 Weighted Average Diluted 813.5 Basic Shares Outstanding 812.2 Diluted Shares Outstanding 813.6…
  14. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 14
    14 First Quarter 2010 Earnings Oil and Gas Production 2Q10 Outlook We expect oil and gas sales volumes to be in the range of 750 to 760 mboe/d at about current oil prices, with production slightly above these levels. Production…
  15. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 15
    15 First Quarter 2010 Earnings Oil and Gas Production 2Q10 Outlook In the Middle East, increases are expected in the Oman Mukhaizna field and in Dolphin where the plant maintenance down-time in 1Q10 is not expected to repeat. In…
  16. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 16
    16 First Quarter 2010 Earnings 2Q10 Outlook Commodity Price Sensitivity Earnings At current market prices, a 1.00 per barrel change in oil prices impacts oil and gas quarterly earnings before income taxes by about 36 mm; A swing…
  17. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 17
    17 First Quarter 2010 Earnings 2Q10 Outlook For the Chemical segment: Demand for caustic soda and vinyls is expected to continue to improve in both the US and the international markets. Improving caustic soda pricing and low…
  18. Q1 Earnings Conference Call – Occidental Petroleum Corp – slide 18
    18

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