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occidental petroleum Oxy Fact Sheet

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occidental petroleum Oxy Fact Sheet

  1. 1. at a GLancE: thIrd quartEr 2008 A rig at Oxy’s Elk Hills operations in California. Occidental Petroleum Corporation is an international oil and gas exploration and production company, as well as a major North American chemical manufacturer. Oxy is the fourth-largest U.S. oil and gas company, based on market capitalization of $47 billion. Oxy’s business strategy is driven by a disciplined financial philosophy that balances profitability and growth while maintaining a strong balance sheet. Oxy is committed to using advanced technology to produce more oil and natural gas, while being a responsible steward of the environment. Financial Performance oxy stock summary: Net income for the quarter was $2.3 billion – a 72-percent increase compared to the third quarter of NYSE Stock Ticker: OXY 2007. For the first nine months of 2008 Oxy achieved record net income of $6.4 billion, an increase of 62 percent above the comparable nine-month period last year. Diluted earnings per share for the Price: $58.08 third quarter of 2008 were $2.78, compared to $1.58 in the third quarter of 2007. 52 Week Range: $39.93 – $100.04 Oil and Gas Highlights Shares Outstanding (Approx.): 810 MM Oxy’s oil and gas assets are concentrated in three core areas – the United States, Middle East/North Market Cap: $47 B Africa and Latin America. Third quarter 2008 segment earnings were $3.62 billion, compared to As of 11/4/08 $1.96 billion for the same period in 2007. Worldwide oil and gas production for the third quarter of 2008 averaged 588,000 barrels of oil equivalent (BOE) per day, an increase of 3 percent, compared with 570,000 BOE per day produced in the third quarter of last year. contact InformatIon: Purchase of PxP interests Oxy signed an agreement with Plains Exploration & Production Investors: Company (PXP) to purchase PXP’s remaining interests in the Permian Basin of West Texas and New Christopher G. Stavros Mexico and Piceance Basin of Colorado for $1.25 billion. Current production (net to Oxy) from the properties being acquired is approximately 13,000 barrels of oil equivalent per day. The properties Vice President, Investor Relations have approximately 92 million barrels of oil equivalent of proved reserves (net to Oxy). (212) 603-8111 Oxy signed the preliminary agreement with the Abu Dhabi National Oil investorrelations_newyork@oxy.com abu dhabi concessions Company to appraise and develop two oil and gas fields in the Emirate of Abu Dhabi. Over the next three to four years, Oxy is projecting total capital investment of $500 million in both projects – one Media: onshore, and one in shallow water offshore. Oxy will operate both fields and will hold a 100-percent Richard S. Kline interest in the newly created concessions. Vice President, Midstream Highlights Communications & Public Affairs (310) 443-6249 Midstream segment earnings were $66 million for the third quarter of 2008. richard_kline@oxy.com Chemical Highlights Chemical segment earnings for the third quarter of 2008 were $219 million, compared to $212 million for the same period in 2007. The higher earnings were attributable primarily to higher caustic soda price.
  2. 2. Production Stock Price Total Stockholder Return 2003-2007 thousands of BOE/day Thomson Financial stated as percent (Includes consolidated subsidiaries and investments in other interests.) 499 594 570 545 100 466 451 80 60 235 40 83 78 20 0 2004 2005 2006 2007 9 mos. 2004 2005 2006 2007 9 mos. Dow S&P 500 S&P 500 Oxy 2008 2008 Jones Index Integrated Oil & Gas Industrial Index Index Return on Equity Total Debt Total Equity $ in billions $ in billions stated as percent 26.9 41 3.9 22.8 34 19.3 3.0 2.9 28 26 15.1 24 † 1.8 1.8 10.6 27 17 13 7 6 2004 2005 2006 2007 9 mos. 2004 2005 2006 2007 9 mos. 2004 2005 2006 2007 9 mos.* 2008 2008 2008 *Annualized debt/cap percentage Annual Dividend Net Income Capital Expenditures $ per common share $ in billions $ in billions 1.21 6.4 3.5 3.2 3.0 5.4 5.3 0.94 0.80 4.2 2.3 0.645 1.7 0.55 2.6 2004 2005 2006 2007 2008* 2004 2005 2006 2007 9 mos. 2004 2005 2006 2007 9 mos. 2008 2008 *Annualized Selected Financial Data For the Years Ended 12/31 (Dollar amounts in millions, except per-share amounts) 9 mos. 2008 2007 2006 2005 2004 results of operations $ 20,196 Net sales $ 18,784 $ 17,175 $ 14,153 $ 10,400 6,391 Income from continuing operations 5,078 4,202 4,838 2,197 6,414 Net income 5,400 4,191 5,293 2,574 Basic earnings per common share 7.79 from continuing operations 6.08 4.93 6.00 2.78 7.82 Basic earnings per common share 6.47 4.92 6.56 3.25 7.79 Diluted earnings per common share 6.44 4.87 6.47 3.21 financial Position 42,589 Total assets 36,519 32,431 26,170 21,440 Long-term debt, net of current maturities 1,057 and unamortized discount 1,741 2,619 2,873 3,345 26,937† Stockholders’ equity 22,823 19,252 15,091 10,597 cash flow 8,136 Cash provided by operating activities 6,798 6,353 5,337 3,878 (3,223) Capital expenditures (3,497) (2,987) (2,295) (1,703) Cash provided/(used) by all other investing $ (3,347) activities, net $ 369 $ (1,396) $ (866) $ (725) In October, Oxy issued $1 billion in senior notes. † For additional information, refer to Oxy’s 2007 Form 10-K, available at www.oxy.com or by calling 888-OXY-PETE. Forward Looking Statements: Statements in this fact sheet that contain words such as “will” or “expect” or otherwise relate to the future are forward-looking and involve risks and uncertainties that could significantly affect expected results. Factors that could cause results to differ materially include, but are not limited to: exploration risks, such as drilling of unsuccessful wells; global commodity pricing fluctuations and supply/demand considerations; higher than expected costs; political risk; change in tax rates; potential failure to achieve expected production from development projects and not successfully completing (or any material delay in) any expansion, capital expenditure, acquisition or disposition. Unless legally required, Oxy may not update forward looking statements. Some prior year amounts may have been retrospectively changed to conform to current year presentations in accordance with GAAP.

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