OXY Occidental Petroleum (OXY) Q1 FY26 earnings call
Occidental Petroleum delivered strong Q1 FY26 results, exceeding production and midstream guidance, driven by operational efficiencies and higher commodity prices. The company continued its aggressive deleveraging, reducing principal debt significantly, and aims for further balance sheet strength. Management emphasized a disciplined capital allocation strategy focused on organic development and sustainable shareholder returns amidst market volatility.
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OXY operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Production Oil and Gas | 1.46M boe/dIn our Oil and Gas segment, global production during the fourth quarter was 1.46 million BOE per day, outperforming the midpoint of guidance by 13,000 BOE per day.Source: earnings call transcript | 1.39M boe/d+Our oil and gas business produced at just over 1.39 million BOE per day.Source: earnings call transcript | 1.4M boe/dIn the second quarter, our oil and gas business produced 1.4 million BOE per day, exceeding the midpoint of our production guidance.Source: earnings call transcript | ~1.47M boe/dIn the third quarter, our oil and gas business produced approximately 1.47 million barrels of oil equivalent per day, exceeding the high end of our guidance range.Source: earnings call transcript | 1.426M boe/dWe delivered 1.426 million BOE per day production, a 21,000 BOE per day [indiscernible] against the midpoint of guidance, largely driven by strong new well performance and uptime across our domestic portfolio.Source: earnings call transcript | 1.43M boe/dTotal production for the quarter averaged 1.43 million BOE per day, exceeding the midpoint of guidance by 23,000 BOE per day.Source: earnings call transcript | +0.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.