Oxy delivered solid Q2 operational and financial results
Oxy reported 1,433 Mboed production, $961 MM Midstream income, and $3.0 B free cash flow. It retired $8.6 B debt and raised the dividend by 8%.
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Energy and chemicals company with carbon management
oxy.comLast updated
In short: Oxy announced CEO Vicki Hollub will retire in 2026, completed the $9.7 billion sale of OxyChem, and significantly reduced its debt.
Oxy reported 1,433 Mboed production, $961 MM Midstream income, and $3.0 B free cash flow. It retired $8.6 B debt and raised the dividend by 8%.
Net income was $2.8 billion, adjusted EPS was $2.40, and debt was reduced to $11.8 billion.
The program also cut routine flaring by 80% globally and sustained zero flaring in several operations since 2020.
Reports $1.4B operating cash flow, $7.1B debt repayment, and 1,426 Mboed production exceeding guidance.
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