EX-99.3 4 a08-19876_1ex99d3.htm EX-99.3

Exhibit 99.3

 

Investor Relations Supplemental Schedules

 

 

 

Investor Relations Supplemental Schedules

Summary

($ Millions)

 

 

 

2Q 2008

 

2Q 2007

 

 

 

 

 

 

 

Reported Net Income

 

$2,297

 

$1,412

 

EPS - Diluted

 

$2.78

 

$1.68

 

 

 

 

 

 

 

Core Results

 

$2,300

 

$943

 

EPS - Diluted

 

$2.79

 

$1.12

 

 

 

 

 

 

 

Total Worldwide Production (mboe/day)

 

588

 

558

 

 

 

 

 

 

 

Total Worldwide Crude Oil Realizations ($/BBL)

 

$110.12

 

$59.11

 

Domestic Natural Gas Realizations ($/MCF)

 

$9.99

 

$7.07

 

 

 

 

 

 

 

Wtd. Average Basic Shares O/S (mm)

 

821.3

 

837.7

 

Wtd. Average Diluted Shares O/S (mm)

 

825.5

 

841.8

 

 

 

 

YTD 2008

 

YTD 2007

 

 

 

 

 

 

 

Reported Net Income

 

$4,143

 

$2,624

 

EPS - Diluted

 

$5.01

 

$3.11

 

 

 

 

 

 

 

Core Results

 

$4,119

 

$1,731

 

EPS - Diluted

 

$4.98

 

$2.05

 

 

 

 

 

 

 

Total Worldwide Production (mboe/day)

 

598

 

559

 

 

 

 

 

 

 

Total Worldwide Crude Oil Realizations ($/BBL)

 

$98.16

 

$55.34

 

Domestic Natural Gas Realizations ($/MCF)

 

$9.09

 

$6.74

 

 

 

 

 

 

 

Wtd. Average Basic Shares O/S (mm)

 

822.5

 

839.3

 

Wtd. Average Diluted Shares O/S (mm)

 

826.9

 

843.2

 

 

 

 

 

 

 

Shares Outstanding (mm)

 

817.1

 

830.7

 

 

 

 

 

 

 

Cash Flow from Operations

 

$5,000

 

$2,900

 

 

 

1


 

Investor Relations Supplemental Schedules

 

 

 

OCCIDENTAL PETROLEUM

2008 Second Quarter

Net Income (Loss)

($ millions)

 

 

 

Reported

 

 

 

 

 

Core

 

 

 

Income

 

Significant Items Affecting Income

 

Results

 

Oil & Gas

 

$

3,806

 

 

 

 

 

 

$

3,806

 

 

 

 

 

 

 

 

 

 

 

 

Chemical

 

144

 

 

 

 

 

 

144

 

 

 

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

161

 

 

 

 

 

 

161

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(7

)

 

 

 

 

 

(7

)

 

 

 

 

 

 

 

 

 

 

 

Other

 

(133

)

 

 

 

 

 

(133

)

 

 

 

 

 

 

 

 

 

 

 

Taxes

 

(1,671

)

 

 

 

 

 

(1,671

)

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

2,300

 

 

-

 

 

 

2,300

 

Discontinued operations, net of tax

 

(3

)

 

3

 

Discontinued operations, net

 

-

 

Net Income

 

$

2,297

 

 

$

3

 

 

 

$

2,300

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2.80

 

 

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

 

 

Net Income

 

$

2.80

 

 

 

 

 

 

$

2.80

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2.78

 

 

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

 

 

Net Income

 

$

2.78

 

 

 

 

 

 

$

2.79

 

 

2


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2007 Second Quarter

Net Income (Loss)

($ millions)

 

 

 

Reported
Income

 

 

Significant Items Affecting Income

 

   Core
Results

 

Oil & Gas

 

$

1,658

 

 

$

(23

)

 

Sale of oil & gas interests

 

$

1,632

 

 

 

 

 

 

(3

)

 

Legal settlements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemical

 

158

 

 

 

 

 

 

 

158

 

 

 

 

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

25

 

 

 

 

 

 

 

25

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

6

 

 

(5

)

 

Debt purchases

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

202

 

 

(284

)

 

Sale of Lyondell shares

 

(82

)

 

 

 

 

 

 

 

 

 

 

 

 

Taxes

 

(904

)

 

113

 

 

Tax effect of adjustments

 

(791

)

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,145

 

 

(202

)

 

 

 

943

 

Discontinued operations, net of tax

 

267

 

 

(267

)

 

Discontinued operations, net

 

-    

 

Net Income

 

$

1,412

 

 

$

(469

)

 

 

 

$

943

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.36

 

 

 

 

 

 

 

 

 

Discontinued operations, net of tax

 

0.32

 

 

 

 

 

 

 

 

 

Net Income

 

$

1.68

 

 

 

 

 

 

 

$

1.13

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.36

 

 

 

 

 

 

 

 

 

Discontinued operations, net of tax

 

0.32

 

 

 

 

 

 

 

 

 

Net Income

 

$

1.68

 

 

 

 

 

 

 

$

1.12

 

 

3


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2008 First Six Months

Net Income (Loss)

($ millions)

 

 

 

Reported
Income

 

 

Significant Items Affecting Income

 

   Core
Results

 

Oil & Gas

 

$

6,694

 

 

 

 

 

 

 

 

$

6,694

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemical

 

323

 

 

 

 

 

 

 

323

 

 

 

 

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

284

 

 

 

 

 

 

 

284

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(7

)

 

 

 

 

 

 

(7

)

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

(210

)

 

 

 

 

 

 

(210

)

 

 

 

 

 

 

 

 

 

 

 

 

Taxes

 

(2,965

)

 

 

 

 

 

 

(2,965

)

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

4,119

 

 

-     

 

 

 

 

4,119

 

Discontinued operations, net of tax

 

24

 

 

(24

)

 

Discontinued operations, net

 

-    

 

Net Income

 

$

4,143

 

 

$

(24

)

 

 

 

$

4,119

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

5.01

 

 

 

 

 

 

 

 

 

Discontinued operations, net

 

0.03

 

 

 

 

 

 

 

 

 

Net Income

 

$

5.04

 

 

 

 

 

 

 

$

5.01

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

4.98

 

 

 

 

 

 

 

 

 

Discontinued operations, net

 

0.03

 

 

 

 

 

 

 

 

 

Net Income

 

$

5.01

 

 

 

 

 

 

 

$

4.98

 

 

4

 


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2007 First Six Months

Net Income (Loss)

($ millions)

 

 

 

Reported
Income

 

Significant Items Affecting Income

 

  Core
Results

Oil & Gas

 

 

$

3,541

 

 

 

$

(412

)

 

Sale of Russian operations

 

 

$

2,994

 

 

 

 

 

 

 

 

(112

)

 

Legal settlements

 

 

 

 

 

 

 

 

 

 

 

(23

)

 

Sale of oil & gas interests

 

 

 

 

Chemical

 

 

295

 

 

 

 

 

 

 

 

 

295

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

 

143

 

 

 

 

 

 

 

 

 

143

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(175

)

 

 

167

 

 

Debt purchases

 

 

(8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

98

 

 

 

(284

)

 

Sale of Lyondell shares

 

 

(139

)

 

 

 

 

 

 

 

47

 

 

Facility closure

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxes

 

 

(1,588

)

 

 

34

 

 

Tax effect of adjustments

 

 

(1,554

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

 

2,314

 

 

 

(583

)

 

 

 

 

1,731

 

Discontinued operations, net of tax

 

 

310

 

 

 

(310

)

 

Discontinued operations, net

 

 

-   

 

Net Income

 

 

$

2,624

 

 

 

$

(893

)

 

 

 

 

$

1,731

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

 

$

2.76

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations, net of tax

 

 

0.37

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

 

$

3.13

 

 

 

 

 

 

 

 

 

$

2.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

 

$

2.74

 

 

 

 

 

 

 

 

 

 

 

Discontinued operations, net of tax

 

 

0.37

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

 

$

3.11

 

 

 

 

 

 

 

 

 

$

2.05

 

 

5


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

Items Affecting Comparability of Core Results Between Periods

 

The item(s) below are included in core results and are shown in this table

because they affect the comparability between periods.

 

Pre-tax
Income / (Expense)

 

Second Quarter

 

Six Months

 

 

 

2008

 

2007

 

2008

 

2007

 

Corporate

 

 

 

 

 

 

 

 

 

 

  Environmental remediation

 

(26

)

 

(6

)

 

(30

)

 

(14

)

 

 

6


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

 

Worldwide Effective Tax Rate

 

 

 

 

QUARTERLY

 

YEAR TO-DATE

 

 

2008

 

2008

 

2007

 

2008

 

2007

REPORTED INCOME

 

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

Oil & Gas (a)

 

3,806

 

 

2,888

 

 

1,658

 

 

6,694

 

 

3,541

 

Chemicals

 

144

 

 

179

 

 

158

 

 

323

 

 

295

 

Midstream, marketing and other

 

161

 

 

123

 

 

25

 

 

284

 

 

143

 

Corporate & other

 

(140

)

 

(77

)

 

208

 

 

(217

)

 

(77

)

Pre-tax income

 

3,971

 

 

3,113

 

 

2,049

 

 

7,084

 

 

3,902

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal and state

 

801

 

 

606

 

 

456

 

 

1,407

 

 

722

 

Foreign (a)

 

870

 

 

688

 

 

448

 

 

1,558

 

 

866

 

Total

 

1,671

 

 

1,294

 

 

904

 

 

2,965

 

 

1,588

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

2,300

 

 

1,819

 

 

1,145

 

 

4,119

 

 

2,314

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide effective tax rate

 

42%  

 

42%  

 

44%  

 

42%  

 

41%  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2008

 

2008

 

2007

 

2008

 

2007

CORE RESULTS

 

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

Oil & Gas (a)

 

3,806

 

 

2,888

 

 

1,632

 

 

6,694

 

 

2,994

 

Chemicals

 

144

 

 

179

 

 

158

 

 

323

 

 

295

 

Midstream, marketing and other

 

161

 

 

123

 

 

25

 

 

284

 

 

143

 

Corporate & other

 

(140

)

 

(77

)

 

(81

)

 

(217

)

 

(147

)

Pre-tax income

 

3,971

 

 

3,113

 

 

1,734

 

 

7,084

 

 

3,285

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal and state

 

801

 

 

606

 

 

343

 

 

1,407

 

 

688

 

Foreign (a)

 

870

 

 

688

 

 

448

 

 

1,558

 

 

866

 

Total

 

1,671

 

 

1,294

 

 

791

 

 

2,965

 

 

1,554

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core results

 

2,300

 

 

1,819

 

 

943

 

 

4,119

 

 

1,731

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide effective tax rate

 

42%  

 

42%  

 

46%  

 

42%  

 

47%  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Revenues and income tax expense include taxes owed by Occidental but paid by governmental
entities on its behalf. Oil and gas pre-tax income includes the following revenue amounts by periods.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2008

 

2008

 

2007

 

2008

 

2007

 

 

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

 

 

582

 

 

488

 

 

300

 

 

1,070

 

 

588

 

 

7


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Reported Income Comparison

 

 

 

Second

 

First

 

 

 

 

 

Quarter

 

Quarter

 

 

 

 

 

2008

 

2008

 

B / (W)

Oil & Gas

 

 

$

3,806

 

 

 

$

2,888

 

 

 

$

918

 

Chemical

 

 

144

 

 

 

179

 

 

 

(35

)

Midstream, marketing and other

 

 

161

 

 

 

123

 

 

 

38

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(7

)

 

 

-

 

 

 

(7

)

Other

 

 

(133

)

 

 

(77

)

 

 

(56

)

Taxes

 

 

(1,671

)

 

 

(1,294

)

 

 

(377

)

Income from continuing operations

 

 

2,300

 

 

 

1,819

 

 

 

481

 

Discontinued operations, net

 

 

(3

)

 

 

27

 

 

 

(30

)

Net Income

 

 

$

2,297

 

 

 

$

1,846

 

 

 

$

451

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

$

2.80

 

 

 

$

2.24

 

 

 

$

0.56

 

Diluted

 

 

$

2.78

 

 

 

$

2.23

 

 

 

$

0.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

 

42% 

 

 

42% 

 

 

0% 

 

 

 

 

 

 

 

 

 

 

 

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Core Results Comparison

 

 

 

Second

 

First

 

 

 

 

 

Quarter

 

Quarter

 

 

 

 

 

2008

 

2008

 

B / (W)

Oil & Gas

 

 

$

3,806

 

 

 

$

2,888

 

 

 

$

918

 

Chemical

 

 

144

 

 

 

179

 

 

 

(35

)

Midstream, marketing and other

 

 

161

 

 

 

123

 

 

 

38

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(7

)

 

 

-

 

 

 

(7

)

Other

 

 

(133

)

 

 

(77

)

 

 

(56

)

Taxes

 

 

(1,671

)

 

 

(1,294

)

 

 

(377

)

Core Results

 

 

$

2,300

 

 

 

$

1,819

 

 

 

$

481

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core Results Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

$

2.80

 

 

 

$

2.21

 

 

 

$

0.59

 

Diluted

 

 

$

2.79

 

 

 

$

2.20

 

 

 

$

0.59

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

 

42% 

 

 

42% 

 

 

0% 

 

8


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 2Q08 vs. 1Q08

($ Millions)

 

 

 

* Higher operating expenses

 

 

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 2Q08 vs. 1Q08

($ Millions)

 

 

 

* Higher energy and feedstock costs

 

9


 

Investor Relations Supplemental Schedules

 

 

 

 

 

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Reported Income Comparison

 

 

 

Second

 

 

Second

 

 

 

 

 

 

Quarter

 

 

Quarter

 

 

 

 

 

 

2008

 

 

2007

 

 

B / (W)

 

Oil & Gas

 

$

3,806

 

 

$

1,658

 

 

$

2,148

 

Chemical

 

144

 

 

158

 

 

(14

)

Midstream, marketing and other

 

161

 

 

25

 

 

136

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(7

)

 

6

 

 

(13

)

Other

 

(133

)

 

202

 

 

(335

)

Taxes

 

(1,671

)

 

(904

)

 

(767

)

Income from continuing operations

 

2,300

 

 

1,145

 

 

1,155

 

Discontinued operations, net

 

(3

)

 

267

 

 

(270

)

Net Income

 

$

2,297

 

 

$

1,412

 

 

$

885

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

$

2.80

 

 

$

1.68

 

 

$

1.12

 

Diluted

 

$

2.78

 

 

$

1.68

 

 

$

1.10

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

42% 

 

44% 

 

2% 

 

 

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Core Results Comparison

 

 

 

Second

 

 

Second

 

 

 

 

 

 

Quarter

 

 

Quarter

 

 

 

 

 

 

2008

 

 

2007

 

 

B / (W)

 

Oil & Gas

 

$

3,806

 

 

$

1,632

 

 

$

2,174

 

Chemical

 

144

 

 

158

 

 

(14

)

Midstream, marketing and other

 

161

 

 

25

 

 

136

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(7

)

 

1

 

 

(8

)

Other

 

(133

)

 

(82

)

 

(51

)

Taxes

 

(1,671

)

 

(791

)

 

(880

)

Core Results

 

$

2,300

 

 

$

943

 

 

$

1,357

 

 

 

 

 

 

 

 

 

 

 

Core Results Per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

$

2.80

 

 

$

1.13

 

 

$

1.67

 

Diluted

 

$

2.79

 

 

$

1.12

 

 

$

1.67

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

42% 

 

46% 

 

4% 

 

10


 

Investor Relations Supplemental Schedules

 

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 2Q08 vs. 2Q07

($ Millions)

 

 

 

* DD&A rate increase (40) and higher operating expenses

 

 

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 2Q08 vs. 2Q07

($ Millions)

 

 

 

11

* Higher energy and feedstock costs


 

Investor Relations Supplemental Schedules

 

 

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

 

Six Months

 

 

 

2008

 

 

2007

 

 

2008

 

 

2007

 

NET PRODUCTION PER DAY:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil and Liquids (MBL)

 

 

 

 

 

 

 

 

 

 

 

 

California

 

84

 

 

93

 

 

86

 

 

89

 

Permian

 

169

 

 

163

 

 

170

 

 

164

 

Midcontinent and Rockies

 

5

 

 

3

 

 

4

 

 

4

 

Total

 

258

 

 

259

 

 

260

 

 

257

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 

 

 

California

 

238

 

 

268

 

 

241

 

 

250

 

Permian

 

190

 

 

187

 

 

184

 

 

192

 

Midcontinent and Rockies

 

174

 

 

154

 

 

166

 

 

152

 

Total

 

602

 

 

609

 

 

591

 

 

594

 

Latin America

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil (MBL)

 

 

 

 

 

 

 

 

 

 

 

 

Argentina

 

22

 

 

34

 

 

29

 

 

33

 

Colombia

 

43

 

 

44

 

 

43

 

 

43

 

Total

 

65

 

 

78

 

 

72

 

 

76

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 

 

 

Argentina

 

14

 

 

28

 

 

18

 

 

25

 

Bolivia

 

21

 

 

18

 

 

21

 

 

16

 

Total

 

35

 

 

46

 

 

39

 

 

41

 

Middle East / North Africa

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil (MBL)

 

 

 

 

 

 

 

 

 

 

 

 

Oman

 

21

 

 

19

 

 

20

 

 

21

 

Dolphin

 

19

 

 

-

 

 

20

 

 

-

 

Qatar

 

45

 

 

47

 

 

46

 

 

46

 

Yemen

 

20

 

 

25

 

 

23

 

 

28

 

Libya

 

27

 

 

19

 

 

23

 

 

23

 

Total

 

132

 

 

110

 

 

132

 

 

118

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 

 

 

Oman

 

25

 

 

32

 

 

23

 

 

29

 

Dolphin

 

163

 

 

-

 

 

182

 

 

-

 

Total

 

188

 

 

32

 

 

205

 

 

29

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Barrels of Oil Equivalent (MBOE)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subtotal consolidated subsidiaries

 

593

 

 

561

 

 

603

 

 

562

 

Other interests

 

 

 

 

 

 

 

 

 

 

 

 

Colombia - minority interest

 

(7

)

 

(6

)

 

(7

)

 

(6

)

Yemen - Occidental net interest

 

2

 

 

3

 

 

2

 

 

3

 

Total worldwide production - MBOE

 

588

 

 

558

 

 

598

 

 

559

 

 

12


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

Six Months

 

 

 

2008

 

2007

 

2008

 

2007

 

 

 

 

 

 

 

 

 

 

 

OIL & GAS:

 

 

 

 

 

 

 

 

 

PRICES

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

114.88

 

58.19

 

102.47

 

55.09

 

Natural gas ($/MCF)

 

9.99

 

7.07

 

9.09

 

6.74

 

 

 

 

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

87.78

 

52.57

 

76.47

 

49.19

 

Natural Gas ($/MCF)

 

4.50

 

2.26

 

4.11

 

2.12

 

 

 

 

 

 

 

 

 

 

 

Middle East / North Africa

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

113.64

 

66.21

 

103.47

 

60.42

 

 

 

 

 

 

 

 

 

 

 

Total Worldwide

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

110.12

 

59.11

 

98.16

 

55.34

 

Natural Gas ($/MCF)

 

7.71

 

6.46

 

6.87

 

6.20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter

 

Six Months

 

 

 

2008

 

 

2007

 

2008

 

 

2007

 

Exploration Expense

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

$

25

 

 

$

9

 

$

32

 

 

$

27

 

Latin America

 

11

 

 

8

 

26

 

 

31

 

Middle East / North Africa

 

36

 

 

61

 

76

 

 

114

 

Other Eastern Hemisphere

 

(14

)

 

15

 

(2

)

 

23

 

TOTAL REPORTED

 

$

58

 

 

$

93

 

$

132

 

 

$

195

 

 

13


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

Six Months

 

Capital Expenditures ($MM)

 

2008

 

2007

 

2008

 

2007

 

Oil & Gas

 

 

 

 

 

 

 

 

 

California

 

$

201

 

$

147

 

$

365

 

$

275

 

Permian

 

109

 

125

 

200

 

253

 

Midcontinent and Rockies

 

86

 

57

 

134

 

100

 

Latin America

 

210

 

109

 

390

 

223

 

Middle East  / North Africa

 

262

 

316

 

528

 

609

 

Other Eastern Hemisphere

 

-

 

6

 

-

 

7

 

Chemicals

 

95

 

48

 

145

 

75

 

Midstream, marketing and other

 

94

 

39

 

159

 

82

 

Corporate

 

59

 

3

 

63

 

6

 

TOTAL

 

$

1,116

 

$

850

 

$

1,984

 

$

1,630

 

 

 

Depreciation, Depletion &

 

Second Quarter

 

Six Months

 

Amortization of Assets ($MM)

 

2008

 

2007

 

2008

 

2007

 

Oil & Gas

 

 

 

 

 

 

 

 

 

Domestic

 

$

248

 

$

248

 

$

503

 

$

486

 

Latin America

 

83

 

88

 

188

 

178

 

Middle East  / North Africa

 

187

 

132

 

377

 

285

 

Chemicals

 

82

 

77

 

164

 

150

 

Midstream, marketing and other

 

16

 

15

 

33

 

31

 

Corporate

 

5

 

4

 

9

 

8

 

TOTAL

 

$

621

 

$

564

 

$

1,274

 

$

1,138

 

 

14


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

 

 

 

 

30-Jun-08

 

 

 

31-Dec-07

 

CAPITALIZATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Debt (including current maturities)

 

 

$

1,775

 

 

 

$

1,776

 

 

 

 

 

 

 

 

 

 

Notes Payable

 

 

-

 

 

 

12

 

 

 

 

 

 

 

 

 

 

Others

 

 

25

 

 

 

25

 

 

 

 

 

 

 

 

 

 

Total Debt

 

 

$

1,800

 

 

 

$

1,813

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EQUITY

 

 

$

25,143

 

 

 

$

22,823

 

 

 

 

 

 

 

 

 

 

Total Debt To Total Capitalization

 

 

7%

 

 

 

7%

 

 

15