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Occidental Petroleum Q2 Earnings in Line, Revenues Lag - Analyst Blog

Occidental Petroleum Corporation OXY reported second-quarter 2015 adjusted earnings of 21 cents per share, in line with the Zacks Consensus Estimate. On a year-over-year basis, quarterly earnings plunged 84.8%, primarily due to lower crude oil and natural liquids (NGL) realized prices.

On a GAAP basis, the company reported earnings of 23 cents per share in the second quarter against $1.82 per share a year ago.

Occidental Petroleum Corporation - Earnings Surprise | FindTheBest

Total Revenues

Occidental Petroleum's total revenue was $3,469 million, lagging the Zacks Consensus Estimate of $3,899 million by 11%. Revenues dropped 32.4% from $5,133 million a year ago due to lower Oil and Gas (36.8% year over year), Chemical (17.1%) and Midstream, Marketing and Other (33.2%) revenues.

Quarterly Highlights

Occidental Petroleum’s average daily net oil, liquids and gas production volume increased 13.4% year over year to 658,000 barrels of oil equivalents (BOE). The upside...


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