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Occidental Petroleum Corp. (OXY) Tops Q2 EPS by 7c

July 31, 2014 7:13 AM EDT

Occidental Petroleum Corp. (NYSE: OXY) reported Q2 EPS of $1.82, $0.07 better than the analyst estimate of $1.75. Revenue for the quarter came in at $6.28 billion versus the consensus estimate of $6.04 billion. Q2 2014 record domestic oil production of 278,000 barrels per day.

In announcing the results, Stephen I. Chazen, President and Chief Executive Officer, said, "For the fourth consecutive quarter, we have delivered strong domestic oil production growth, with increases coming from both our Permian and California assets. Domestic oil production was 278,000 barrels per day for the second quarter of 2014. Excluding the effect from the Hugoton sale, domestic oil production increased 21,000 barrels per day from the second quarter of 2013 with our Permian Resources business growing its oil production by over 21 percent. For the first half of 2014, our cash flow from operations was $5.6 billion. Capital expenditures, net of contributions from partners, were $4.7 billion and we purchased approximately 16.6 million shares of our stock.”

For earnings history and earnings-related data on Occidental Petroleum Corp. (OXY) click here.



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