- Occidental Petroleum press release (NYSE:OXY): Q2 Non-GAAP EPS of $3.16 beats by $0.13.
- Repurchased over 18 million shares for approximately $1.1B through August 1, 2022
- Cash flow from continuing operations of $5.3B and cash flow from continuing operations before working capital of $5.1B.
- That is, OxyChem generated record quarterly pre-tax earnings of $800 million; adjusted mid-point total year pre-tax earnings guidance to $2.3 billion
- Oil and gas pre-tax income on continuing operations for the second quarter of 2022 was $4.1 billion, compared to pre-tax income of $2.9 billion for the first quarter of 2022. Excluding items affecting comparability, second quarter of 2022 oil and gas income improved over the first quarter of 2022 due to higher crude oil and domestic natural gas prices and higher crude oil and NGL volumes, partially offset by higher lease operating expenses. For the second quarter of 2022, average WTI and Brent marker prices were $108.41 per barrel and $111.69 per barrel, respectively.