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Occidental Petroleum Escaping The Oil Price Black Hole

Occidental Petroleum (OXY) is a large-cap, conservatively-run exploration and production independent that has benefited from its measured pace in leveraging trends in the industry. If one had to place Oxy, as many call it, on a color wheel, it would fall into the cooler blue ranges over some of its competitors' hotter, orange-red moves. In early 2014, Oxy was just starting to re-organize its Permian operations as it moved toward more domestic U.S. activity, the direction numerous global E&Ps like Apache (APA), Pioneer Natural Resources (PXD), Noble (NBL) and others have taken.

Oxy is now positioned for development mode in their selected Permian targets - in the Midland Basin, Delaware Basin and the New Mexico Bone Springs. They began their shale journey in earnest, which was conveyed after their first quarter 2014 call (Top Producer Oxy "After the Call" article). Their Permian business was split into two, comprised of… Read More …