Second Quarter 2026 Earnings Considerations

Occidental Petroleum Corporation ("Occidental") is providing the following summary of earnings considerations that management believes will impact results for the second quarter of 2026. The summary is intended only to provide information regarding current estimates of these factors. It is not comprehensive of all results for and changes that have occurred in the second quarter of 2026 and is not an estimate of the second quarter of 2026 earnings for Occidental. Further, this summary may not account for all adjustments and charges required to fully reflect changes in industry conditions, is preliminary and is subject to finalization of Occidental's financial reporting process for the second quarter of 2026.


 

Average Diluted Shares Outstanding

Average diluted shares outstanding for the second quarter of 2026 were 1,012.2 million shares.


 

Cash Flow related to Crude Oil Collars

Crude oil collar settlements for the second quarter of 2026 negatively impacted operating cash flow before working capital by $156 million.


 

Realizations

The following table presents information about Occidental's average realized prices and index prices:

      
 Three months ended June 30, 2026
Average Realized Prices 
Oil ($/Bbl) 
United States$96.93
International$95.83
Total Worldwide$96.78
NGL ($/Bbl) 
United States$23.79
International$33.49
Total Worldwide$24.64
Natural Gas ($/Mcf) 
United States$(1.48)
International$1.95
Total Worldwide$(0.80)
  
Average Index Prices 
WTI oil ($/Bbl)$92.79
Brent oil ($/Bbl)$97.06
NYMEX gas ($/Mcf)$2.89
  
Average Realized Prices as Percentage of Average Index Prices 
Worldwide oil as a percentage of average WTI104 %
Worldwide oil as a percentage of average Brent100 %
Worldwide NGL as a percentage of average WTI27 %
Domestic natural gas as a percentage of average NYMEX(51)%