Occidental Still Expects to Deliver 5%-8% Long-Term Growth Within Cash Flows at $50 WTI
In a recent study, The Wall Street Journal showed that most shale wells are failing to live up to company expectations, stoking fear that firms will have to spend more to sustain their production. The implied result: lower profitability and perhaps higher crude prices. In our own analysis, we found that decline rates are not typically decreasing to the 6%-10% range that the industry expects and are actually trending closer to 15%. Therefore, our models--which previously incorporated terminal dec...Occidental Petroleum has three reporting segments: oil and gas, which explores for, develops and produces oil and condensate, natural gas liquids (NGL) and natural gas; chemical, which mainly manufactures and markets basic chemicals (chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates and calcium chloride) and vinyls (vinyl chloride monomer, polyvinyl chloride and ethylene); and marketing and midstream, which purchases, markets, gathers, processes, transports and stores oil, condensate, NGL, natural gas, carbon dioxide and power.
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