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Barclays Americas Select Franchise Conference – Occidental Petroleum Corp

Occidental Petroleum Corp · May 15, 2018 · 16 slides

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Slides

  1. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 1
    Barclays Americas Select Franchise Conference Occidental Petroleum May 15, 2018 Cedric Burgher Chief Financial Officer
  2. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 2
    Occidental Petroleum Corporation (Oxy) is a returns High Quality Assets Provide a focused energy company with operations in the Sustainable Value Proposition United States, Middle East and Latin America Oil & Gas Focused in world…
  3. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 3
    Oxys Unique Value Proposition Returns Focused Growth Consistent Dividend Growth ROCE Leadership Growing dividend with an attractive yield Value protection in down cycle Promotes capital allocation discipline Growth within Cash…
  4. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 4
    Delivering Consistent Annual Dividend Growth 2002 2017: Oxy dividend CAGR 12% vs S&P CAGR 7.5% (/share) 29.52 Annual Dividends Paid 28.00 26.44 Cumulative Dividends Paid 24.00 23.38 20.36 20.00 17.39 16.00 14.51 11.95…
  5. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 5
    Short and Long-term Executive Compensation Changes Expanded use of returns-based metrics for incentive compensation Short-term Incentives Long-term Incentives 25% of CEO long-term incentive 15% of CEO annual bonus1 is compensation…
  6. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 6
    Cash Flow Breakeven at Low Oil Prices Achieved in 3Q18 Cash Flow Breakeven at 50: 6.0 Dividend + 5% 8% Production Growth 5.7 5.7 Growth 5.0 Cash Flow Neutral at 40: Capital Operating Cash Flow ( Bn) Dividend with Flat…
  7. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 7
    Exceeding Cash Flow Expectations Midstream Chemicals Permian EOR Market and operational improvements: Market improvements: Market and operational improvements: Mid to Gulf Coast Differentials Improved Caustic Soda pricing Production…
  8. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 8
    Shaping Oxys Competitive Advantage Permian Execution Excellence Subsurface Technical Basin-leading Enhanced Recovery Excellence Wells Operational New Mexico D&C Efficiency & Speed Outperformance Product Transport Logistics &…
  9. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 9
    Permian Resources Undeveloped Inventory Unconventional Inventory Depth 14,000 1.4 MM net Permian 11,9961 12,000 11,207 11,650 Unconventional acres Undeveloped Drilling Locations Midland 10,000 Basin 325,000 net acres…
  10. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 10
    Subsurface Technical Excellence Basin-leading Wells Sustainable Step Change in Well Results from 2H17 into 1Q18 Productivity 2H17 & 1Q18 Wells Peak 30D Production Rates1 1Q18 & 2H17 Peak 30D 3,100 Boed1 Wolfcamp XY 5 Wells 7,100'…
  11. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 11
    Successful Drilling and A&D Programs Leading to Lower F&D Costs F&D Costs (All Sources)1 17.96 17.22 2017 Program Execution Highlights 8.53 Positive total-company performance revisions Improved productivity and lower well 5 Year…
  12. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 12
    Logistics & Strategic Relationships 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…
  13. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 13
    Production Transport & Realizations Ample Takeaway Committed Oil & Gas Takeaway Ensures Products are Realized in Multiple Markets Multi-year firm oil commitments on New Mexico four, third-party pipelines Total capacity 470 Mbod to…
  14. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 14
    Enhanced Oil Global EOR Scale, Position & Capability Recovery (EOR) Permian Basin CO2 EOR 34 CO2 Floods; 70 Waterfloods CCUS Leadership Inject 2.4 Bcfd of CO2 Colombia Sequestered 800,000 MT of Leadership in CO2 Qatar Anthropogenic CO2…
  15. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 15
    Permian CO2 EOR Occidental is a Global Leader in EOR 3,500 U.S. EOR Projects Oxys Permian EOR Position 3,000 OXY 2,500 40+ Years of EOR Expertise of Injectors 2,000 Reservoir Quality 1,500 1,000 Other U.S. EOR Operators…
  16. Barclays Americas Select Franchise Conference – Occidental Petroleum Corp – slide 16
    Driving the New Oxy Into the Future Returns Focused Growth ROCE Leadership Growth within Cash Flow Robust, Low-Cost Inventory Industry-leading Decline Rate Executive Compensation Aligned 17

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