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Occidental Petroleum | 10-Q: Q2 2024 Earnings Report

Occidental Petroleum | 10-Q: Q2 2024 Earnings Report

西方石油 | 10-Q:2024財年二季報
美股SEC公告 ·  2024/08/08 04:27

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Occidental Petroleum reported Q2 2024 net income of $1.17 billion ($1.03 per share), up 66% from $706 million in Q1 2024. Revenue increased to $6.82 billion from $5.98 billion, driven by higher domestic crude oil prices and volumes. The company's oil and gas segment earnings rose to $1.64 billion, benefiting from resumed production in Eastern Gulf of Mexico and improved pricing.The chemical segment posted earnings of $296 million, up from $254 million in Q1, due to higher caustic soda and PVC prices along with improved product demand. The midstream and marketing segment turned profitable with earnings of $116 million compared to a $33 million loss in Q1, helped by improved gas transportation spreads and lower equity investment losses.Operating cash flow reached $4.4 billion for H1 2024, with capital expenditures of $3.6 billion. The company closed its $12.4 billion CrownRock acquisition on August 1, 2024, funded through $9.7 billion in new debt. Occidental plans to divest $4.5-6.0 billion in assets within 18 months of closing and has already announced $818 million in Delaware Basin asset sales.
Occidental Petroleum reported Q2 2024 net income of $1.17 billion ($1.03 per share), up 66% from $706 million in Q1 2024. Revenue increased to $6.82 billion from $5.98 billion, driven by higher domestic crude oil prices and volumes. The company's oil and gas segment earnings rose to $1.64 billion, benefiting from resumed production in Eastern Gulf of Mexico and improved pricing.The chemical segment posted earnings of $296 million, up from $254 million in Q1, due to higher caustic soda and PVC prices along with improved product demand. The midstream and marketing segment turned profitable with earnings of $116 million compared to a $33 million loss in Q1, helped by improved gas transportation spreads and lower equity investment losses.Operating cash flow reached $4.4 billion for H1 2024, with capital expenditures of $3.6 billion. The company closed its $12.4 billion CrownRock acquisition on August 1, 2024, funded through $9.7 billion in new debt. Occidental plans to divest $4.5-6.0 billion in assets within 18 months of closing and has already announced $818 million in Delaware Basin asset sales.
西方石油公司報告2024年第二季度凈利潤爲11.7億美金(每股1.03美金),相比2024年第一季度的70600萬美金增長了66%。營業收入從59.8億美金增加至68.2億美金,主要受國內WTI原油價格和銷量上漲的推動。公司的石油和天然氣板塊收益上升至16.4億美金,得益於美國東部墨西哥灣的生產恢復和定價的改善。化學板塊的收益爲29600萬美金,較第一季度的25400萬美金有所增加,原因是苛性鈉和PVC價格上漲以及產品需求改善。中遊以及市場營銷板塊盈利轉正,收益爲11600萬美金,而第一季度則虧損3300萬美金,得益於燃料幣交通價差的改善和較低的股權投資損失。2024年上半年,經營現金流達到44億美金,資本支出爲36億美金。公司於2024年8月1日完成了耗資124億美金的CrownRock收購,資金來自於97億美金的新債務。西方石油計劃在完成收購後的18個月內剝離450億至600億美金的資產,已宣佈在德拉瓦爾盆地的資產出售額爲81800萬美金。
西方石油公司報告2024年第二季度凈利潤爲11.7億美金(每股1.03美金),相比2024年第一季度的70600萬美金增長了66%。營業收入從59.8億美金增加至68.2億美金,主要受國內WTI原油價格和銷量上漲的推動。公司的石油和天然氣板塊收益上升至16.4億美金,得益於美國東部墨西哥灣的生產恢復和定價的改善。化學板塊的收益爲29600萬美金,較第一季度的25400萬美金有所增加,原因是苛性鈉和PVC價格上漲以及產品需求改善。中遊以及市場營銷板塊盈利轉正,收益爲11600萬美金,而第一季度則虧損3300萬美金,得益於燃料幣交通價差的改善和較低的股權投資損失。2024年上半年,經營現金流達到44億美金,資本支出爲36億美金。公司於2024年8月1日完成了耗資124億美金的CrownRock收購,資金來自於97億美金的新債務。西方石油計劃在完成收購後的18個月內剝離450億至600億美金的資產,已宣佈在德拉瓦爾盆地的資產出售額爲81800萬美金。
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