Skip to main content 4Q 2021 Earnings Presentation – Occidental Petroleum Corp | Shale Experts
Loading...
Pm

4Q 2021 Earnings Presentation – Occidental Petroleum Corp

Occidental Petroleum Corp · Feb 25, 2022 · 47 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. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 1
    02.25.22 Fourth Quarter Earnings Conference Call
  2. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 2
    3 OUTLINE Fourth Quarter & 2021 Highlights 2022 Capital Plan Shareholder Return Framework Financials Closing Remarks
  3. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 3
    DELIVERING CASH FLOW PRIORITIES 4 Deleverage De-risk Continuing Return of Capital Complete Initiated Near-term: reduce net Maintain production debt to 20 B Quarterly common dividend increased to Substantial cost Medium-term:…
  4. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 4
    HIGHLIGHTS 5 2021 ACHIEVEMENTS Record free cash flow before working capital of 8.8 B Retired 6.7 B of debt Financial Large-scale divestiture program complete Substantial progress towards net debt target of 25 B Exceeded…
  5. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 5
    HIGHLIGHTS 6 FOURTH QUARTER 2021 PERFORMANCE 2.9 B OIL & GAS 2.2 B Free Cash Flow Strong Operational Debt Generation Performance with Repaid 1.19 MMboed Fourth Consecutive Quarter of Record OXYCHEM 2.8 B1 Highest Earnings…
  6. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 6
    HIGHLIGHTS 7 2021 OIL & GAS OPERATIONAL EXCELLENCE Record drilling cycle times in GoM, Permian, Rockies, and Oman Optimized project sequencing reduced GoM planned downtime by 50% in 2021 compared to 2019 DJ Basin reduced cost per…
  7. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 7
    8 OUTLINE Fourth Quarter & 2021 Highlights 2022 Capital Plan Shareholder Return Framework Financials Closing Remarks
  8. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 8
    FINANCIALS 9 2022 CAPITAL PLAN Capital B 2021 Actuals Sustaining1 2022 Plan Oil & Gas 2.4 2.8 3.2 - 3.4 Chemicals 0.3 0.3 0.3 Midstream & Corporate 0.1 0.1 0.2 Net-Zero Pathway2 0.1 0.0 0.2 - 0.4 Total Oxy Capital 2.9 3.2 3.9 -…
  9. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 9
    10 OUTLINE Fourth Quarter & 2021 Highlights 2022 Capital Plan Shareholder Return Framework Financials Closing Remarks
  10. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 10
    11 Maintain Production Base CONTINUED 2022 Preserve asset base integrity FOCUS and longevity CASH FLOW Debt Reduction PRIORITIES Lower expenses and enhance balance sheet flexibility Excess cash flow continues to be…
  11. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 11
    SHAREHOLDER RETURN FRAMEWORK 12 Continued Prioritize retirement of additional 5 B of debt 1 Debt Reduction Drive net debt towards next milestone of 20 B Medium-term target of returning to investment grade Increase Raise…
  12. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 12
    13 OUTLINE Fourth Quarter & 2021 Highlights 2022 Capital Plan Shareholder Return Framework Financials Closing Remarks
  13. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 13
    FINANCIALS 14 FOURTH QUARTER 2021 RESULTS Reported Production versus Guidance Reported Mboed Midpoint Reconciliation ROCKIES Adjusted diluted EPS1 1.48 Higher OBO volumes (primarily related to prior +27 period adjustments),…
  14. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 14
    FINANCIALS 15 FIRST QUARTER AND FULL-YEAR 2022 GUIDANCE OIL & GAS OXYCHEM CORPORATE FY 2022 1Q22 Production1 1Q22 pre-tax income: 600 MM Domestic tax rate: 22% Total Company: 1,070 - 1,090 Mboed FY 2022 pre-tax income: 1.7 - 2.0 B…
  15. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 15
    16 OUTLINE Fourth Quarter & 2021 Highlights 2022 Capital Plan Shareholder Return Framework Financials Closing Remarks
  16. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 16
    LCV INVESTOR UPDATE 17 STRATEGIC INVESTMENT APPROACH Oxy is leveraging carbon management expertise, experience, and infrastructure to accelerate the commercialization and global development of CCUS technologies, scaling carbon markets,…
  17. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 17
    18 Appendix
  18. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 18
    19 APPENDIX Financial Information Oil & Gas Update Asset Overview Environment, Social & Governance
  19. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 19
    FINANCIAL INFORMATION 20 2022 CAPITAL PLAN 4.5 4.3 B 4.0 3.9 B 3.5 3.2 B 3.0 2.9 B 2.5 2.0 1.5 1.0 0.5 - 2021 GoM & EOR Fewer Efficiency & Exploration Sustaining Inflation Multi-Year Net-Zero 2022 Capital 2022 Activity…
  20. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 20
    FINANCIAL INFORMATION 21 2022 CAPITAL DETAIL 3.9 B - 4.3 B CAPITAL PROGRAM BY ASSET CAPITAL PROGRAM BY TYPE Facilities 20% 0.2 Exploration & Corporate 0.3 - 0.5 D,C&E 58% Base Maintenance 7% Midstream & Marketing Oil & Gas 0.3…
  21. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 21
    FINANCIAL INFORMATION 22 1Q22 PRODUCTION UPDATE Reconciliation from 4Q21 Volumes 55 Mboed offline in 1Q22 for planned turnarounds and Domestic Onshore GoM & International maintenance activity in International & GoM 1,400 Al Hosn…
  22. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 22
    FINANCIAL INFORMATION 23 BALANCE SHEET IMPROVEMENT DRIVES SHAREHOLDER VALUE 70 Enterprise Value ( B) PRIORITIZING DEBT REDUCTION 18% 20% 17% 60 7% 13% Market capitalization becoming a larger percentage of Enterprise 16% 27% 36% 41%…
  23. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 23
    FINANCIAL INFORMATION 24 CASH FLOW SENSITIVITIES OIL & GAS MIDSTREAM & MARKETING Annualized cash flow changes 225 MM per 1.00 / Annualized cash flow changes 65 MM per 0.25 / bbl bbl change in oil prices change in Midland to MEH…
  24. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 24
    25 APPENDIX Financial Information Oil & Gas Update Asset Overview Environment, Social & Governance
  25. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 25
    OIL & GAS UPDATE 26 DOMESTIC ONSHORE ASSETS PERMIAN 2022 ACTIVITY ROCKIES 2022 ACTIVITY 1.7 B - 1.9 B 14 Gross 9 Net 300 - 330 0.4 B 2 Gross 2 Net 70 - 80 Capex Rigs Rigs Wells Online Capex Rigs Rigs Wells Online 100% 100% OBO…
  26. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 26
    INTERNATIONAL & GULF OF 27 MEXICO MILESTONES 2022 2023 2024 Horn Mountain West (3 wells), Lucius, Holstein HMW, Caesar-Tonga, Lucius, Holstein HMW, Caesar-Tonga, Lucius, Exploration CTSSE (CT subsea expansion) Holstein GOM…
  27. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 27
    Al Hosn Gas Project Execution and Operational Excellence 28 World-class, state-of-the-art sour-gas project Plant capacity increased twice between 2016 and 2018 with minimal capital investment 2021: Expansion project commenced;…
  28. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 28
    OIL & GAS UPDATE 29 LEADING DELAWARE BASIN WELL PERFORMANCE AVERAGE 6-MONTH CUMULATIVE OIL BY OPERATOR1 AVERAGE 12-MONTH CUMULATIVE OIL BY OPERATOR2 Oxy is 34% above the 6-month basin Oxy is 33% above the 12-month basin 160…
  29. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 29
    7,000 Domestic Onshore Operated Inventory 30 DOMESTIC Total Gross Operated Locations 6,079 6,000 INVENTORY 5,000 4,399 AND WELL 4,000 COSTS 3,000 2,000 1,599 1,000 Depth of low-breakeven - inventory demonstrates…
  30. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 30
    31 2021 RESERVES 600 MMboe Improvement Through Program Execution TOTAL COMPANY RESERVE REPLACEMENT 994 33 3,512 2021 Organic 2,911 (426) Reserve Replacements 75% Proved 241% Developed All-In 72% Liquids 233% Organic…
  31. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 31
    32 SUCCESSFUL DRILLING AND A&D PROGRAMS F&D Costs (Program Adds)1 12.27 Program Execution Highlights 285% domestic organic reserve replacement 6.45 Positive total-company performance revisions 5 Year Average 2021 11.26…
  32. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 32
    33 APPENDIX Financial Information Oil & Gas Update Asset Overview Environment, Social & Governance
  33. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 33
    OXYS COMBINED INTEGRATED PORTFOLIO 34 Oil & Gas OxyChem Oxy Midstream Focused in world class Leading manufacturer of basic Integrated infrastructure and basins with a history of chemicals and significant cash marketing provide…
  34. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 34
    ONE OF THE LARGEST U.S. ACREAGE HOLDERS 35 9.5 MM Net Total U.S. Acres Rockies Permian 1.2 MM Acres 2.9 MM Acres Powder River Basin 0.4 MM Permian Unconventional 1.5 MM DJ Basin 0.8 MM Excludes acreage outside of active…
  35. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 35
    U.S. ONSHORE OVERVIEW 36 Rockies Permian 1.2 MM Acres 2.9 MM Acres 4Q21 Net Production Oil NGLs Gas Total (Mbod) (Mbbld) (MMcfd) (Mboed) Permian 284 114 551 490 Rockies & Other Dmstc. 99 100 684 313 Total 383 214 1,235…
  36. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 36
    GULF OF MEXICO OVERVIEW 37 Gulf of Mexico 0.7 MM Acres MARLIN 4Q21 Net Production HORN MOUNTAIN Oil (Mbod) 123 NANSEN HOLSTEIN NGLs (Mbbld) 11 CONSTITUTION BOOMVANG MARCO POLO CAESAR/TONGA Gas (MMcfd) 88 GUNNISON…
  37. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 37
    INTERNATIONAL OVERVIEW 38 U.A.E. 2.5 MM Acres 4Q21 Net Production1 Oil NGLs Gas Total (Mbod) (Mbbld) (MMcfd) (Mboed) Algeria & Other Intl. 43 4 7 48 Al Hosn 14 25 253 81 Dolphin 6 8 146 38 Oman 58 - 69 70 Total 121 37 475 237…
  38. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 38
    OXYCHEM Pre-Tax Earnings (EBIT)1 39 MARKET LEADING POSITION 2,000 23 owned facilities worldwide 1,600 MM Integrated assets capture benefits 1,200 of favorable market conditions 800 Top tier global producer in every product…
  39. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 39
    MIDSTREAM & MARKETING 40 PHYSICAL MIDSTREAM BUSINESS GUIDANCE RECONCILIATION 1Q22 guidance lower due to turnarounds at Al Hosn and Dolphin 150 4Q21 Guide 4Q21 Actuals 1Q22 Guide CRUDE EXPORTS FROM GULF COAST Quarterly Pre-Tax…
  40. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 40
    41 APPENDIX Financial Information Oil & Gas Update Asset Overview Environment, Social & Governance
  41. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 41
    WATER RECYCLING ACROSS THE PERMIAN 42 New Mexico Texas Water infrastructure drives value and environmental benefits Partnership with an industry-leading 3rd party water midstream Continue to increase the percentage of recycled…
  42. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 42
    CLIMATE-RELATED 43 GOALS AND TARGETS In 2020, Oxy adopted the following goals to achieve Net Zero across our total emissions inventory in accordance with the Paris Agreement: Net-zero emissions in our operations and energy use…
  43. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 43
    ADVANCING NET ZERO 44 SHORT-TERM GHG GOALS (2021-25) GHG SCOPE TARGET DATE TYPE METRIC Scope 1+2 2021 Annual Milestones in Emission Reduction Efforts established annually by the Board of Directors Scope 3 2021 Annual Milestones in…
  44. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 44
    ADVANCING NET ZERO 45 MEDIUM- AND LONG-TERM GHG GOALS GHG SCOPE TARGET DATE TYPE METRIC MEDIUM-TERM (2026-2035) Scope 1 2030 Absolute Eliminate all routine flaring by 2030 Facilitate 25 million metric tons per year of geologic…
  45. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 45
    OXY LOW CARBON VENTURES 46 Oxy is using our long-standing, industry-leading expertise MAJOR INITIATIVES in carbon management to lower our own emissions and accelerate a global low-carbon economy 01 CCUS PROJECT DEVELOPMENT…
  46. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 46
    47 DIRECT AIR CAPTURE FOR ATMOSPHERIC CO2 REMOVAL Oxys development company 1PointFive plans to build a first- of-its-kind direct air capture facility with technology licensed from Carbon Engineering. The technology pulls CO2…
  47. 4Q 2021 Earnings Presentation – Occidental Petroleum Corp – slide 47

From the store

Browse maps, data & reports in the Shale Experts store