Scotia Howard Weil Energy Conference Occidental Petroleum March 27, 2018 Vicki Hollub Chief Executive Officer
Oxys Unique Value Proposition Disciplined Reinvestment Consistent Dividend Growth ROCE Leadership Growing dividend with an attractive yield Value protection in down cycle Value-Added 5% - 8+% Promotes capital allocation discipline…
Shaping Oxys Competitive Advantage Confidence in Permian Execution Subsurface Technical Basin-leading Enhanced Recovery Excellence Wells Operational New Mexico D&C Efficiency & Speed Outperformance Product Transport Logistics &…
Low-Cost Inventory Reducing Breakevens…
Subsurface Technical Excellence Basin-leading Wells Sustainable Step Change in Well Results from 2H17 continues into 1Q18 2H17 Wells2 Peak 30D Production Rates1 2H 2017 Peak 30D 3,100 Boed1 Productivity Wolfcamp XY 3 Wells…
Operational Efficiency & Speed NM D&C Outperformance Operational Efficiency and Well Design Improvements Are Reducing Time to Market and Improving Execution of Breakeven Plan New Mexico Drilling Performance New Mexico Operational…
Logistics & Strategic Partnerships Aventine Logistics Hub Secure Supply 240 acres in Eddy County, NM within 20 miles of Greater Sand Dunes and other future development areas 30,000 tons of sand storage + transload capacity 2 unit…
New Mexico Well Breakeven Plan Sustainability Enhanced by Cost Improvements Operating Efficiency and Logistics Savings Logistics: Project Aventine New Mexico 2nd Bone Spring 10,000 Well Cost Well design: Fluid 0.6 (0.8) 9.9 (0.8)…
Infrastructure Delaware Basin Frac Water Usage Investment Leader 2017 Actuals 2018 Plan in Water Recycling 11% 10% Increasing Recycled Water Usage 32% Fresh Water from 30% to 50% in 2018 Brackish Water 50% 40% 57% Recycled Water…
Production Transport & Realizations Ample Takeaway Committed Oil & Gas Takeaway Ensures Products are Realized in Multiple Markets Multi-year firm oil commitments New Mexico on four, third-party pipelines and 100% owned Centurion…
Production Transport & Realizations Corpus Christi Oil Terminal Increasing Ingleside export capacity to 750,000 bopd Suezmax Expanding Ingleside Terminal VLCC loading capability 4Q18 2H18 - 2019 Capacity increase 2H19 Leading…
Enhanced Oil Global EOR Scale, Position & Capability Recovery Permian Basin CO2 EOR 4 Unconventional EOR Pilots Unconventional & Inject 2.4 Bcfd of CO CCUS Leadership Colombia 2 Sequestered 800,000 MT of Qatar Anthropogenic CO2 in 2017…
Driving the New Oxy Into the Future Returns Leader Low-cost Producer Deep Inventory Technology Innovator Social and Environmental Leader 15