Oxy Delivers Operational Miss, but Permian Asset Quality Starting to Shine Through
No-moat Occidental delivered production of 621,000 barrels of oil equivalent per day in the fourth quarter--3% higher sequentially but quite a bit below the guided range of 633-641 mboe/d (Permian resources volumes were within guidance, but at the low end of the range). The miss was attributed to a combination of factors, including the oil-price sensitivity of overseas production-sharing contributions (Oxy earned a smaller share of volumes produced due to the upswing in crude prices during the p...
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