EX-99.3 4 a14-18051_1ex99d3.htm EX-99.3

Exhibit 99.3

 

Investor Relations Supplemental Schedules

 

 

Investor Relations Supplemental Schedules

Summary

 

 

 

2Q 2014

 

2Q 2013

 

 

 

 

 

 

 

Core Results (millions)

 

$1,404

 

$1,276

 

EPS - Diluted

 

$1.79

 

$1.58

 

 

 

 

 

 

 

Reported Net Income (millions)

 

$1,431

 

$1,322

 

EPS - Diluted

 

$1.82

 

$1.64

 

 

 

 

 

 

 

Total Worldwide Sales Volumes (mboe/day)

 

741

 

764

 

Total Worldwide Production Volumes (mboe/day)

 

742

 

772

 

 

 

 

 

 

 

Total Worldwide Crude Oil Realizations ($/BBL)

 

$100.38

 

$97.91

 

Total Worldwide NGL Realizations ($/BBL)

 

$42.82

 

$38.78

 

Domestic Natural Gas Realizations ($/MCF)

 

$4.28

 

$3.82

 

 

 

 

 

 

 

Wtd. Average Basic Shares O/S (millions)

 

782.6

 

804.9

 

Wtd. Average Diluted Shares O/S (millions)

 

782.9

 

805.4

 

 

 

 

 

 

 

 

 

YTD 2014

 

YTD 2013

 

 

 

 

 

 

 

Core Results (millions)

 

$2,791

 

$2,635

 

EPS - Diluted

 

$3.54

 

$3.27

 

 

 

 

 

 

 

Reported Net Income (millions)

 

$2,821

 

$2,677

 

EPS - Diluted

 

$3.58

 

$3.32

 

 

 

 

 

 

 

Total Worldwide Sales Volumes (mboe/day)

 

738

 

755

 

Total Worldwide Production Volumes (mboe/day)

 

743

 

768

 

 

 

 

 

 

 

Total Worldwide Crude Oil Realizations ($/BBL)

 

$99.70

 

$97.99

 

Total Worldwide NGL Realizations ($/BBL)

 

$44.43

 

$39.52

 

Domestic Natural Gas Realizations ($/MCF)

 

$4.43

 

$3.44

 

 

 

 

 

 

 

Wtd. Average Basic Shares O/S (millions)

 

786.9

 

804.8

 

Wtd. Average Diluted Shares O/S (millions)

 

787.3

 

805.3

 

 

 

 

 

 

 

Shares Outstanding (millions)

 

779.6

 

805.8

 

 

 

 

 

 

 

Cash Flow from Operations (millions)

 

$5,600

 

$6,200

 

 

 

1


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2014 Second Quarter

Net Income (Loss) - Segments Earnings Pre-Tax and After-Tax

($ millions, except per share amounts)

 

 

 

Reported

 

 

 

 

 

Core

PRE-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$      1,132

 

$   (535)

 

Hugoton sale gain

 

$   1,068

 

 

 

 

471

 

Assets impairments

 

 

Foreign

 

1,096

 

 

 

 

 

1,096

Exploration

 

(46)

 

 

 

 

 

(46)

 

 

2,182

 

 

 

 

 

$   2,118

 

 

 

 

 

 

 

 

 

Chemical

 

133

 

 

 

 

 

133

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

219

 

 

 

 

 

219

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(15)

 

 

 

 

 

(15)

 

 

 

 

 

 

 

 

 

Other

 

(130)

 

17

 

Spin-off costs and other

 

(113)

 

 

 

 

 

 

 

 

 

Taxes

 

(957)

 

19

 

Tax effect of pre-tax adjustments

 

(938)

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,432

 

(28)

 

 

 

1,404

Discontinued operations, net of tax

 

(1)

 

1

 

Discontinued operations, net

 

-

Net Income

 

$      1,431

 

$     (27)

 

 

 

$   1,404

 

 

 

Reported

 

 

 

 

 

Core

AFTER-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$        720

 

$   (341)

 

Hugoton sale gain

 

$     679

 

 

 

 

300

 

Assets impairments

 

 

Foreign

 

576

 

 

 

 

 

576

Exploration

 

(36)

 

 

 

 

 

(36)

 

 

1,260

 

 

 

 

 

$  1,219

 

 

 

 

 

 

 

 

 

Chemical

 

84

 

 

 

 

 

84

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

160

 

 

 

 

 

160

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(15)

 

 

 

 

 

(15)

 

 

 

 

 

 

 

 

 

Other

 

(130)

 

13

 

Spin-off costs and other

 

(117)

 

 

 

 

 

 

 

 

 

Unallocated taxes

 

73

 

 

 

 

 

73

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,432

 

(28)

 

 

 

1,404

Discontinued operations, net of tax

 

(1)

 

1

 

Discontinued operations, net

 

-

Net Income

 

$     1,431

 

$     (27)

 

 

 

$  1,404

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$       1.83

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$       1.83

 

 

 

 

 

$    1.79

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$       1.82

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$       1.82

 

 

 

 

 

$    1.79

 

 

2


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2013 Second Quarter

Net Income (Loss) - Segments Earnings Pre-Tax and After-Tax

($ millions, except per share amounts)

 

 

 

Reported

 

 

 

 

 

Core

PRE-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$

997

 

 

 

 

 

$

997

Foreign

 

1,173

 

 

 

 

 

1,173

Exploration

 

(70)

 

 

 

 

 

(70)

 

 

2,100

 

 

 

 

 

$ 

2,100

 

 

 

 

 

 

 

 

 

Chemical

 

275

 

  $

(131)

 

Carbocloro sale gain

 

144

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

48

 

 

 

 

 

48

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(29)

 

 

 

 

 

(29)

 

 

 

 

 

 

 

 

 

Other

 

(166)

 

55

 

Employment charges (a)

 

(111)

 

 

 

 

 

 

 

 

 

Taxes

 

(901)

 

25

 

Tax effect of pre-tax adjustments

 

(876)

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,327

 

(51)

 

 

 

1,276

Discontinued operations, net of tax

 

(5)

 

5

 

Discontinued operations, net

 

-

Net Income

 

$

1,322

 

  $

(46)

 

 

 

$ 

1,276

 

 

 

Reported

 

 

 

 

 

Core

AFTER-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$

635

 

 

 

 

 

  $

635

Foreign

 

641

 

 

 

 

 

641

Exploration

 

(56)

 

 

 

 

 

(56)

 

 

1,220

 

 

 

 

 

  $

1,220

 

 

 

 

 

 

 

 

 

Chemical

 

172

 

$

(85)

 

Carbocloro sale gain

 

87

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

46

 

 

 

 

 

46

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(29)

 

 

 

 

 

(29)

 

 

 

 

 

 

 

 

 

Other

 

(166)

 

34

 

Employment charges (a)

 

(132)

 

 

 

 

 

 

 

 

 

Unallocated taxes

 

84

 

 

 

 

 

84

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,327

 

(51)

 

 

 

1,276

Discontinued operations, net of tax

 

(5)

 

5

 

Discontinued operations, net

 

-

Net Income

 

$

1,322

 

$

(46)

 

 

 

  $

1,276

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.65

 

 

 

 

 

 

Discontinued operations, net

 

(0.01)

 

 

 

 

 

 

Net Income

 

$

1.64

 

 

 

 

 

  $

1.58

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.64

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$

1.64

 

 

 

 

 

  $

1.58

 

(a)      Reflects charge for the estimated cost related to the employment and post-employment benefits for the Company’s former Executive Chairman and termination of certain other employees and consulting arrangements.

 

 

3

 


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2014 Six Months

Net Income (Loss) - Segments Earnings Pre-Tax and After-Tax

($ millions, except per share amounts)

 

 

 

Reported

 

 

 

 

 

Core

PRE-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$      2,190

 

$   (535)

 

Hugoton sale gain

 

$   2,126

 

 

 

 

471

 

Assets impairments

 

 

Foreign

 

2,188

 

 

 

 

 

2,188

Exploration

 

(92)

 

 

 

 

 

(92)

 

 

4,286

 

 

 

 

 

$   4,222

 

 

 

 

 

 

 

 

 

Chemical

 

269

 

 

 

 

 

269

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

389

 

 

 

 

 

389

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(34)

 

 

 

 

 

(34)

 

 

 

 

 

 

 

 

 

Other

 

(202)

 

17

 

Spin-off costs and other

 

(185)

 

 

 

 

 

 

 

 

 

Taxes

 

(1,889)

 

19

 

Tax effect of pre-tax adjustments

 

(1,870)

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

2,819

 

(28)

 

 

 

2,791

Discontinued operations, net of tax

 

2

 

(2)

 

Discontinued operations, net

 

-

Net Income

 

$      2,821

 

$     (30)

 

 

 

$   2,791

 

 

 

 

 

 

 

 

 

 

 

Reported

 

 

 

 

 

Core

AFTER-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$        1,394

 

$   (341)

 

Hugoton sale gain

 

$     1,353

 

 

 

 

300

 

Assets impairments

 

 

Foreign

 

1,128

 

 

 

 

 

1,128

Exploration

 

(68)

 

 

 

 

 

(68)

 

 

2,454

 

 

 

 

 

$  2,413

 

 

 

 

 

 

 

 

 

Chemical

 

170

 

 

 

 

 

170

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

278

 

 

 

 

 

278

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(34)

 

 

 

 

 

(34)

 

 

 

 

 

 

 

 

 

Other

 

(202)

 

13

 

Spin-off costs and other

 

(189)

 

 

 

 

 

 

 

 

 

Unallocated taxes

 

153

 

 

 

 

 

153

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

2,819

 

(28)

 

 

 

2,791

Discontinued operations, net of tax

 

2

 

(2)

 

Discontinued operations, net

 

-

Net Income

 

$     2,821

 

$     (30)

 

 

 

$  2,791

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$       3.58

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$       3.58

 

 

 

 

 

$    3.54

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$       3.58

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$       3.58

 

 

 

 

 

$    3.54

 

 

4


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2013 Six Months

Net Income (Loss) - Segments Earnings Pre-Tax and After-Tax

($ millions, except per share amounts)

 

 

 

Reported

 

 

 

 

 

Core

PRE-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$      1,886

 

 

 

 

 

$   1,886

Foreign

 

2,246

 

 

 

 

 

2,246

Exploration

 

(112)

 

 

 

 

 

(112)

 

 

4,020

 

 

 

 

 

$   4,020

 

 

 

 

 

 

 

 

 

Chemical

 

434

 

(131)

 

Carbocloro sale gain

 

303

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

263

 

 

 

 

 

263

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(59)

 

 

 

 

 

(59)

 

 

 

 

 

 

 

 

 

Other

 

(227)

 

55

 

Employment charges (a)

 

(172)

 

 

 

 

 

 

 

 

 

Taxes

 

(1,745)

 

25

 

Tax effect of pre-tax adjustments

 

(1,720)

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

2,686

 

(51)

 

 

 

2,635

Discontinued operations, net of tax

 

(9)

 

9

 

Discontinued operations, net

 

-

Net Income

 

$      2,677

 

$     (42)

 

 

 

$   2,635

 

 

 

 

 

 

 

 

 

 

 

Reported

 

 

 

 

 

Core

AFTER-TAX

 

Income

 

Significant Items Affecting Income

 

Results

Domestic

 

$        1,201

 

 

 

 

 

$    1,201

Foreign

 

1,177

 

 

 

 

 

1,177

Exploration

 

(29)

 

 

 

 

 

(29)

 

 

2,349

 

 

 

 

 

$  2,349

 

 

 

 

 

 

 

 

 

Chemical

 

271

 

$     (85)

 

Carbocloro sale gain

 

186

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

192

 

 

 

 

 

192

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(59)

 

 

 

 

 

(59)

 

 

 

 

 

 

 

 

 

Other

 

(227)

 

34

 

Exployment charges (a)

 

(193)

 

 

 

 

 

 

 

 

 

Unallocated taxes

 

160

 

 

 

 

 

160

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

2,686

 

(51)

 

 

 

2,635

Discontinued operations, net of tax

 

(9)

 

9

 

Discontinued operations, net

 

-

Net Income

 

$     2,677

 

$     (42)

 

 

 

$  2,635

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$       3.33

 

 

 

 

 

 

Discontinued operations, net

 

(0.01)

 

 

 

 

 

 

Net Income

 

$       3.32

 

 

 

 

 

$    3.27

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$       3.33

 

 

 

 

 

 

Discontinued operations, net

 

(0.01)

 

 

 

 

 

 

Net Income

 

$       3.32

 

 

 

 

 

$    3.27

 

(a)    Reflects charge for the estimated cost related to the employment and post-employment benefits for the Company’s former Executive Chairman and termination of certain other employees and consulting arrangements.

 

 

5


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

Worldwide Effective Tax Rate

 

 

 

QUARTERLY

 

YEAR-TO-DATE

 

 

2014

 

2013

 

2013

 

2014

 

2013

REPORTED INCOME

 

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

Oil & Gas

 

2,182

 

 

2,104

 

 

2,100

 

 

4,286

 

 

4,020

 

Chemical

 

133

 

 

136

 

 

275

 

 

269

 

 

434

 

Midstream, marketing and other

 

219

 

 

170

 

 

48

 

 

389

 

 

263

 

Corporate & other

 

(145

)

 

(91

)

 

(195

)

 

(236

)

 

(286

)

Pre-tax income

 

2,389

 

 

2,319

 

 

2,228

 

 

4,708

 

 

4,431

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal and state

 

427

 

 

379

 

 

332

 

 

805

 

 

624

 

Foreign

 

530

 

 

553

 

 

569

 

 

1,084

 

 

1,121

 

Total

 

957

 

 

932

 

 

901

 

 

1,889

 

 

1,745

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,432

 

 

1,387

 

 

1,327

 

 

2,819

 

 

2,686

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide effective tax rate

 

40

%

 

40

%

 

40

%

 

40

%

 

39

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

2013

 

2014

 

2013

CORE RESULTS

 

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

Oil & Gas

 

2,118

 

 

2,104

 

 

2,100

 

 

4,222

 

 

4,020

 

Chemical

 

133

 

 

136

 

 

144

 

 

269

 

 

303

 

Midstream, marketing and other

 

219

 

 

170

 

 

48

 

 

389

 

 

263

 

Corporate & other

 

(128

)

 

(91

)

 

(140

)

 

(219

)

 

(231

)

Pre-tax income

 

2,342

 

 

2,319

 

 

2,152

 

 

4,661

 

 

4,355

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal and state

 

408

 

 

379

 

 

331

 

 

786

 

 

623

 

Foreign

 

530

 

 

553

 

 

545

 

 

1,084

 

 

1,097

 

Total

 

938

 

 

932

 

 

876

 

 

1,870

 

 

1,720

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core results

 

1,404

 

 

1,387

 

 

1,276

 

 

2,791

 

 

2,635

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide effective tax rate

 

40

%

 

40

%

 

41

%

 

40

%

 

39

%

 

 

6


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2014 Second Quarter Net Income (Loss)

Reported Income Comparison

 

 

 

 

 

 

 

 

 

 

 

 

Second

 

First

 

 

 

 

Quarter

 

Quarter

 

 

 

 

2014

 

2013

 

B / (W)

Oil & Gas

 

  $

2,182

 

 

  $

2,104

 

 

  $

78

 

Chemical

 

133

 

 

136

 

 

(3

)

Midstream, marketing and other

 

219

 

 

170

 

 

49

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(15

)

 

(19

)

 

4

 

Other

 

(130

)

 

(72

)

 

(58

)

Taxes

 

(957

)

 

(932

)

 

(25

)

Income from continuing operations

 

1,432

 

 

1,387

 

 

45

 

Discontinued operations, net

 

(1

)

 

3

 

 

(4

)

Net Income

 

  $

1,431

 

 

  $

1,390

 

 

  $

41

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

  $

1.83

 

 

  $

1.75

 

 

  $

0.08

 

Diluted

 

  $

1.82

 

 

  $

1.75

 

 

  $

0.07

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

40

%

 

40

%

 

0

%

 

 

 

 

OCCIDENTAL PETROLEUM

2014 Second Quarter Net Income (Loss)

Core Results Comparison

 

 

 

 

 

 

 

 

 

 

 

 

Second

 

First

 

 

 

 

Quarter

 

Quarter

 

 

 

 

2014

 

2013

 

B / (W)

Oil & Gas

 

  $

2,118

 

 

  $

2,104

 

 

  $

14

 

Chemical

 

133

 

 

136

 

 

(3

)

Midstream, marketing and other

 

219

 

 

170

 

 

49

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(15

)

 

(19

)

 

4

 

Other

 

(113

)

 

(72

)

 

(41

)

Taxes

 

(938

)

 

(932

)

 

(6

)

Core Results

 

  $

1,404

 

 

  $

1,387

 

 

  $

17

 

 

 

 

 

 

 

 

 

 

 

Core Results Per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

  $

1.79

 

 

  $

1.75

 

 

  $

0.04

 

Diluted

 

  $

1.79

 

 

  $

1.75

 

 

  $

0.04

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

40

%

 

40

%

 

0

%

 

 

7


 

Investor Relations Supplemental Schedules

 

 

GRAPHIC

GRAPHIC

GRAPHIC

 

8


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2014 Second Quarter Net Income (Loss)

Reported Income Comparison

 

 

 

 

 

 

 

 

 

 

 

 

Second

 

Second

 

 

 

 

Quarter

 

Quarter

 

 

 

 

2014

 

2013

 

B / (W)

Oil & Gas

 

  $

2,182

 

 

  $

2,100

 

 

  $

82

 

Chemical

 

133

 

 

  $

275

 

 

(142

)

Midstream, marketing and other

 

219

 

 

  $

48

 

 

171

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(15

)

 

(29

)

 

14

 

Other

 

(130

)

 

(166

)

 

36

 

Taxes

 

(957

)

 

(901

)

 

(56

)

Income from continuing operations

 

1,432

 

 

1,327

 

 

105

 

Discontinued operations, net

 

(1

)

 

(5

)

 

4

 

Net Income

 

  $

1,431

 

 

  $

1,322

 

 

  $

109

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

  $

1.83

 

 

  $

1.64

 

 

  $

0.19

 

Diluted

 

  $

1.82

 

 

  $

1.64

 

 

  $

0.18

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

40

%

 

40

%

 

0

%

 

 

 

 

 

OCCIDENTAL PETROLEUM

 2014 Second Quarter Net Income (Loss)

 Core Results Comparison

 

 

 

 

 

 

 

 

 

 

 

 

Second

 

Second

 

 

 

 

Quarter

 

Quarter

 

 

 

 

2014

 

2013

 

B / (W)

Oil & Gas

 

$          2,118

 

 

$         2,100

 

 

$                 18

 

Chemical

 

133

 

 

144

 

 

(11

)

Midstream, marketing and other

 

219

 

 

48

 

 

171

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(15

)

 

(29

)

 

14

 

Other

 

(113

)

 

(111

)

 

(2

)

Taxes

 

(938

)

 

(876

)

 

(62

)

Core Results

 

$          1,404

 

 

$         1,276

 

 

$               128

 

 

 

 

 

 

 

 

 

 

 

Core Results Per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

$            1.79

 

 

$            1.58

 

 

$              0.21

 

Diluted

 

$            1.79

 

 

$            1.58

 

 

$              0.21

 

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

40

%

 

41

%

 

1

%

 

 

9


 

Investor Relations Supplemental Schedules

 

 

GRAPHIC

GRAPHIC

GRAPHIC

 

 

10


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

Six Months

 

 

 

2014

 

2013

 

2014

 

2013

 

NET PRODUCTION PER DAY:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  United States

 

 

 

 

 

 

 

 

 

    Oil (MBBL)

 

 

 

 

 

 

 

 

 

 California

 

97

 

88

 

96

 

88

 

 Permian Resources

 

40

 

33

 

38

 

34

 

 Permian EOR

 

110

 

112

 

110

 

112

 

 Midcontinent and other

 

29

 

22

 

27

 

22

 

 Total excluding Hugoton

 

276

 

255

 

271

 

256

 

 Hugoton

 

2

 

6

 

4

 

6

 

 Total

 

278

 

261

 

275

 

262

 

    NGLs (MBBL)

 

 

 

 

 

 

 

 

 

 California

 

18

 

21

 

18

 

20

 

 Permian Resources

 

12

 

11

 

11

 

10

 

 Permian EOR

 

29

 

28

 

29

 

29

 

 Midcontinent and other

 

12

 

14

 

14

 

15

 

 Total excluding Hugoton

 

71

 

74

 

72

 

74

 

 Hugoton

 

1

 

3

 

2

 

3

 

 Total

 

72

 

77

 

74

 

77

 

    Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 California

 

243

 

260

 

243

 

262

 

 Permian Resources

 

120

 

121

 

117

 

126

 

 Permian EOR

 

34

 

39

 

37

 

42

 

 Midcontinent and other

 

305

 

313

 

305

 

318

 

 Total excluding Hugoton

 

702

 

733

 

702

 

748

 

 Hugoton

 

16

 

60

 

35

 

60

 

 Total

 

718

 

793

 

737

 

808

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Latin America

 

 

 

 

 

 

 

 

 

    Oil (MBBL)

Colombia

 

19

 

28

 

24

 

29

 

 

 

 

 

 

 

 

 

 

 

    Natural Gas (MMCF)

Bolivia

 

12

 

13

 

12

 

13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Middle East / North Africa

 

 

 

 

 

 

 

 

 

    Oil (MBBL)

 

 

 

 

 

 

 

 

 

Dolphin

 

7

 

7

 

6

 

6

 

Oman

 

70

 

67

 

68

 

66

 

Qatar

 

69

 

75

 

68

 

67

 

Other

 

28

 

44

 

27

 

45

 

Total

 

174

 

193

 

169

 

184

 

 

 

 

 

 

 

 

 

 

 

    NGLs (MBBL)

Dolphin

 

7

 

7

 

7

 

7

 

 

 

 

 

 

 

 

 

 

 

    Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

Dolphin

 

144

 

145

 

138

 

139

 

Oman

 

40

 

56

 

40

 

56

 

Other

 

236

 

232

 

234

 

238

 

Total

 

420

 

433

 

412

 

433

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Barrels of Oil Equivalent excluding Hugoton (MBOE)

 

736

 

753

 

731

 

749

 

    Hugoton

 

6

 

19

 

12

 

19

 

Barrels of Oil Equivalent (MBOE)

 

742

 

772

 

743

 

768

 

 

 

11


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

Six Months

 

 

 

2014

 

2013

 

2014

 

2013

 

NET SALES VOLUMES PER DAY:

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

 

 

Oil (MBBL)

 

278

 

261

 

275

 

262

 

NGLs (MBBL)

 

72

 

77

 

74

 

77

 

Natural Gas (MMCF)

 

720

 

795

 

738

 

810

 

 

 

 

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

 

 

 

Oil (MBBL)

 

24

 

26

 

28

 

28

 

Natural Gas (MMCF)

 

12

 

13

 

12

 

13

 

 

 

 

 

 

 

 

 

 

 

Middle East / North Africa

 

 

 

 

 

 

 

 

 

Oil (MBBL)

 

 

 

 

 

 

 

 

 

Dolphin

 

7

 

7

 

6

 

6

 

Oman

 

71

 

63

 

68

 

68

 

Qatar

 

66

 

80

 

69

 

66

 

Other

 

24

 

36

 

17

 

32

 

Total

 

168

 

186

 

160

 

172

 

 

 

 

 

 

 

 

 

 

 

NGLs (MBBL)

 

7

 

7

 

7

 

7

 

 

 

 

 

 

 

 

 

 

 

Natural Gas (MMCF)

 

420

 

433

 

412

 

433

 

 

 

 

 

 

 

 

 

 

 

Barrels of Oil Equivalent excluding Hugoton (MBOE)

 

735

 

745

 

726

 

736

 

Hugoton

 

6

 

19

 

12

 

19

 

Barrels of Oil Equivalent (MBOE)

 

741

 

764

 

738

 

755

 

 

 

12


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

Six Months

 

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

OIL & GAS:

 

 

 

 

 

 

 

 

 

REALIZED PRICES

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

 

 

Oil ($/BBL)

 

97.48

 

95.08

 

96.72

 

93.33

 

NGLs ($/BBL)

 

43.91

 

39.70

 

45.30

 

40.15

 

Natural gas ($/MCF)

 

4.28

 

3.82

 

4.43

 

3.44

 

 

 

 

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

 

 

 

Oil ($/BBL)

 

101.30

 

98.85

 

99.73

 

103.29

 

Natural gas ($/MCF)

 

10.99

 

11.32

 

10.90

 

11.46

 

 

 

 

 

 

 

 

 

 

 

Middle East / North Africa

 

 

 

 

 

 

 

 

 

Oil ($/BBL)

 

105.15

 

101.83

 

104.91

 

104.40

 

NGLs ($/BBL)

 

32.00

 

29.14

 

34.94

 

32.65

 

 

 

 

 

 

 

 

 

 

 

Total Worldwide

 

 

 

 

 

 

 

 

 

Oil ($/BBL)

 

100.38

 

97.91

 

99.70

 

97.99

 

NGLs ($/BBL)

 

42.82

 

38.78

 

44.43

 

39.52

 

Natural gas ($/MCF)

 

3.07

 

2.83

 

3.20

 

2.60

 

 

 

 

 

 

 

 

 

 

 

INDEX PRICES

 

 

 

 

 

 

 

 

 

WTI oil ($/BBL)

 

102.99

 

94.22

 

100.84

 

94.30

 

Brent oil ($/BBL)

 

109.77

 

103.35

 

108.83

 

108.00

 

NYMEX gas ($/MCF)

 

4.55

 

4.00

 

4.60

 

3.68

 

 

 

 

 

 

 

 

 

 

 

REALIZED PRICES AS PERCENTAGE OF INDEX PRICES

 

 

 

 

 

 

 

 

 

Worldwide oil as a percentage of WTI

 

97%

 

104%

 

99%

 

104%

 

Worldwide oil as a percentage of Brent

 

91%

 

95%

 

92%

 

91%

 

Worldwide NGLs as a percentage of WTI

 

42%

 

41%

 

44%

 

42%

 

Domestic natural gas as a percentage of NYMEX

 

94%

 

95%

 

96%

 

93%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter

 

Six Months

 

 

 

2014

 

2013

 

2014

 

2013

 

Exploration Expense

 

 

 

 

 

 

 

 

 

United States

 

  $

29

 

  $

45

 

  $

70

 

  $

85

 

Middle East / North Africa

 

25

 

33

 

39

 

43

 

 

 

  $

54

 

  $

78

 

  $

109

 

  $

128

 

 

 

13

 


 

Investor Relations Supplemental Schedules

 

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

Second Quarter

 

Six Months

 

Capital Expenditures ($MM)

 

2014

 

2013

 

2014

 

2013

 

Oil & Gas

 

 

 

 

 

 

 

 

 

California

 

  $

491

 

  $

362

 

  $

938

 

  $

679

 

Permian

 

594

 

436

 

1,086

 

871

 

Midcontinent and other

 

219

 

208

 

450

 

426

 

Latin America

 

74

 

75

 

141

 

145

 

Middle East / North Africa

 

554

 

549

 

1,008

 

1,096

 

Exploration

 

164

 

103

 

271

 

181

 

Chemical

 

71

 

103

 

112

 

168

 

Midstream, marketing and other

 

461

 

336

 

868

 

656

 

Corporate

 

30

 

38

 

53

 

58

 

 

TOTAL

2,658

 

2,210

 

4,927

 

4,280

 

Non-controlling interest contributions

 

(149)

 

(39)

 

(272)

 

(65)

 

Cracker JV contribution

 

21

 

-

 

81

 

-

 

 

 

  $

2,530

 

  $

2,171

 

  $

4,736

 

  $

4,215

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, Depletion &

 

Second Quarter

 

Six Months

 

Amortization of Assets ($MM)

 

2014

 

2013

 

2014

 

2013

 

Oil & Gas

 

 

 

 

 

 

 

 

 

Domestic

 

  $

796

 

  $

732

 

  $

1,572

 

  $

1,472

 

Latin America

 

35

 

27

 

77

 

57

 

Middle East / North Africa

 

331

 

395

 

628

 

740

 

Chemical

 

93

 

87

 

182

 

172

 

Midstream, marketing and other

 

54

 

52

 

108

 

102

 

Corporate

 

8

 

10

 

16

 

19

 

 

TOTAL

  $

1,317

 

  $

1,303

 

  $

2,583

 

  $

2,562

 

 

 

14


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

 

 

 

30-Jun-14

 

31-Dec-13

 

CAPITALIZATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Debt (including current maturities)

 

 

  $

6,835

 

 

 

 

  $

6,939

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EQUITY

 

 

  $

43,812

 

 

 

 

  $

43,372

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Debt To Total Capitalization

 

 

13

%

 

 

 

14

%

 

 

 

 

15