Transcription of Oil and Gas
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Oil and Gas
Occidental Announces 3rd Quarter 2021 Results Cash flow from continuing operations of $ billion and cash flow from continuing operations before working capital of $ billion Efficient deployment of capital spending of $656 million, resulting in free cash flow excluding working capital of over $ billion Completed large-scale divestiture program with the sale of Ghana in October Repaid $ billion of long-term debt and retired $750 million of interest rate swaps Earnings per share of $ per diluted share and adjusted earnings per share of $ per diluted share OxyChem generated record earnings and increased total year pre-tax guidance to $ billion Exceeded production guidance midpoint by 15 Mboed, despite impact of Hurricane Ida, with production of 1.
Midstream and marketing's third quarter pre-tax income, excluding WES equity income, exceeded guidance. WES equity income for the third quarter of 2021 was $120 million. Midstream and marketing pre-tax income for the third quarter of 2021 was $20 million, compared to a pre-tax loss of $30 million in the prior quarter.
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