Occidental Petroleum Valuation Report, June 2010 Strategic and Operational Analysis


#29082

148pages

GlobalData

$ 3500

In Stock


Occidental Petroleum Corporation (Oxy) is engaged in the exploration and production of crude oil and natural gas resources in the US; Middle East/North Africa and Latin America. Apart from Exploration & Production operations, the company has Midstream, Marketing and other and Chemical business to support its overall product portfolio. The Oil and Gas segment explores, develops, produces, and markets crude oil, natural gas liquids, and condensate and natural gas. Its domestic oil and gas operations are located in Texas, New Mexico, California, Kansas, Oklahoma, Utah, and Colorado. Its international oil and gas operations are located in Argentina, Bahrain, Bolivia, Colombia, Libya, Oman, Qatar, the United Arab Emirates (UAE), and Yemen. Occidental had proved reserves of approximately 3,225 million barrels of oil equivalent at end of December 31, 2009. Occidentals midstream segment process, transport, store, trade and market crude oil, natural gas, natural gas liquids, condensate and carbon dioxide. This segment also provides power. Its Chemical business, OxyChem, includes manufacturing of Polyvinyl Chloride (PVC) resins, chorine, calcium chloride, and caustic soda. The company operates its chemical business through OxyChemical and is the worlds largest producer of caustic soda, caustic potash and calcium chloride

Scope

  • Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis. 
  • Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies. 
  • SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
  • Production and Development profile: This section highlights the companies forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets. 
  • Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period. 
  • Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies by using different valuation techniques. 
  • Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities.

Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:

  • Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates. 
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies. 
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table Of Contents

1 Table of contents 3
1.1 List of Tables 6
1.2 List of Figures 7

2 Occidental Petroleum Corporation, Company Overview 11

3 Occidental Petroleum Corporation, Watchlist for 2010 17

4 Occidental Petroleum Corporation, Investment Summary 18
4.1 Kern County Discovery in California Along With Other Unconventional Resources Will Boost Companys Production 18
4.2 Largest Crude Oil Producer in the Permian Basin; Enhancing Permian Operations Through The Use of CO2 21
4.3 The Middle East/North Africa: The New Growth Hub For Occidental 25
4.4 Stong Liquidity Position And Sufficient Generation Of Cash From Operations To Meet Capex Requirement 28

5 Occidental Petroleum Corporation, SWOT Analysis 30
5.1 Strength 30
5.1.1 Huge Reserve Base and High Reserve Replacement Ratio 30
5.1.2 Strong Financial and Operational Performance of the Company 30
5.1.3 Expertise in Enhanced Recovery Techniques 30
5.1.4 Diversified Portfolio 30
5.2 Weakness 31
5.2.1 Lower Gas Mix in the Portfolio 31
5.3 Opportunities 31
5.3.1 Kern County Discovery and Hugoton Oil Drilling 31
5.3.2 New Partnership and Joint Ventures with Other Players for the Development of Its Assets 31
5.3.3 The Start of Operations in Iraq 31
5.4 Threats 32
5.4.1 Non-Extension of Concession in Argentina 32

6 Occidental Petroleum Corporation, Goals and Strategies 33
6.1 Grow Production by 5%-8% Annually 33
6.2 Miantain and Increase its Dividend Payout Annually 33
6.3 To Maintain a Low Level of Financial Risk 34

7 Occidental Petroleum Corporation, Production Overview 35
7.1 Production Profile 35
7.2 The US 37
7.2.1 California 37
7.2.2 Permian Basin 38
7.2.3 Mid-Continent 39
7.3 The Middle East/ North Africa 40
7.3.1 Qatar and Yemen 40
7.3.2 Oman 40
7.3.3 Libya and Bahrain 41
7.4 Latin America 41
7.4.1 Argentina 41
7.4.2 Colombia and Bolivia 41
7.5 Costs Incurred and Acreage 43

8 Occidental Petroleum Corporation, Development Overview 45
8.1 The US 45
8.1.1 Permian Basin 45
8.1.2 California 46
8.1.3 Mid-Continent 46
8.2 Latin America 46
8.2.1 Colombia 46
8.2.2 Argentina 47
8.3 Middle East/North Africa 47
8.3.1 Libya 47
8.3.2 Yemen 47
8.3.3 Qatar 47
8.3.4 Oman 47
8.3.5 Iraq 47
8.3.6 Bahrain 47

9 Occidental Petroleum Corporation, Exploration and M&A Highlights 48
9.1 The US 48
9.2 Latin America 48
9.3 Middle East/North Africa 48
9.4 M&A Activity 48

10 Occidental Petroleum Corporation, Marketing and Midstream Updates 51

11 Occidental Petroleum Corporation, Chemical Updates 53

12 Occidental Petroleum Corporation, Outlook 54

13 Occidental Petroleum Corporation, Forecast Production and Financial Statements 55
13.1 Income Statement (20072014) 56
13.2 Balance Sheet (20072014) 57
13.3 Cash Flow Statement (20072014) 58
13.4 Financial Ratios 59

14 Occidental Petroleum Corporation, Valuation 61
14.1 Net Asset Value 61

15 Occidental Petroleum Corporation, Peer Comparision 65
15.1 Share Price Performance 65
15.2 Operational and Financial Performance 66
15.3 Key Financial and Operational Ratio 69

16 Occidental Petroleum Corporation, Key Risks 71
16.1 Political Uncertainity 71
16.2 Fluctuating Crude Oil and Natural Gas Prices 71
16.3 Reserves and Drilling Operations 71
16.4 Competition from Bigger Players 71

17 Occidental Petroleum Corporation, Detailed Financial and Operational Metrics 72
17.1 Occidental Petroleum Corporation, Quarterly E&P Costs Trends 72
17.1.1 Upstream Capital Expenditure, Q2, 2009-Q2, 2010 72
17.2 Occidental Petroleum Corporation, Total Oil and Gas Production 73
17.2.1 Total Crude Oil and Natural Gas Production Trend, Q2, 2009-Q2, 2010 73
17.2.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2009-Q2, 2010 74
17.3 Occidental Petroleum Corporation, Crude Oil Production 75
17.3.1 Total Crude Oil Production Trend, Q2, 2009-Q2, 2010 75
17.3.2 Crude Oil Production, By Country/Region, Q2, 2009-Q2, 2010 76
17.4 Occidental Petroleum Corporation, Natural Gas Production 77
17.4.1 Total Natural Gas Production Trend, Q2, 2009-Q2, 2010 77
17.4.2 Natural Gas Production, By Country/Region, Q2, 2009-Q2, 2010 78
17.5 Occidental Petroleum Corporation, Total Oil and Gas, Reserves and Production 79
17.5.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 20042009 79
17.5.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 20042009 81
17.5.3 Total Crude Oil and Natural Gas Reserve Changes, 20042009 83
17.6 Occidental Petroleum Corporation, Crude Oil/Liquids Production and Reserve 84
17.6.1 Crude Oil/Liquids Production and Reserve Trend, 20042009 84
17.6.2 Crude Oil Production and Reserves By Country/Region, 20042009 85
17.6.3 Crude Oil/Liquids Reserve Changes, 20042009 87
17.7 Occidental Petroleum Corporation, Natural Gas Production and Reserve 88
17.7.1 Natural Gas Production and Reserve Trend, 20042009 88
17.7.2 Natural Gas Production and Reserves, By Country/Region, 20042009 89
17.7.3 Natural Gas Reserve Changes, 20042009 91
17.8 Occidental Petroleum Corporation, Total Crude Oil and Natural Gas Reserves Life Index 92
17.8.1 Total Crude Oil and Natural Gas Reserves Life Index, 20042009 92
17.8.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 20042009 93
17.9 Occidental Petroleum Corporation, Allocation of the Upstream Capital Expenditure 96
17.9.1 Upstream Capital Expenditure, 20042009 96
17.9.2 Acquisition Costs By Country/Region, 20042009 97
17.9.3 Exploration and Development Costs, By Country/Region, 20042009 99
17.10 Occidental Petroleum Corporation, Oil and Gas Cost Per boe, $/boe 101
17.10.1 Oil and Gas Cost Per boe, $/boe, 20042009 101
17.10.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 20042009 103
17.11 Occidental Petroleum Corporation, Oil and Gas Production Replacement Ratio 106
17.11.1 Oil and Gas Production Replacement Ratio, 20042009 106
17.11.2 Oil and Gas Production Replacement Ratio, By Country/Region, 20042009 108
17.12 Occidental Petroleum Corporation, Oil and Gas Revenue and Expenses 113
17.12.1 Oil and Gas Revenue and Expenses, 20042009 113
17.12.2 Oil and Gas Revenue and Expenses, By Country/Region, 20042009 114
17.13 Occidental Petroleum Corporation, Oil and Gas Revenue and Expenses, Per boe 120
17.13.1 Oil and Gas Revenue and Expenses, By boe, 20042009 120
17.13.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 20042009 121
17.14 Occidental Petroleum Corporation, Oil and Gas Performance Metrics 126
17.15 Occidental Petroleum Corporation, Developed and Undeveloped Acreage 127
17.15.1 Gross and Net Developed and Undeveloped Acreage, 20042009 127
17.15.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 20042009 128
17.16 Occidental Petroleum Corporation, Well Statistics 131
17.16.1 Producible Oil and Gas Well, 20042009 131
17.16.2 Producible Oil and Gas Well, By Country/Region, 20042009 132
17.16.3 Exploration and Development Wells Drilled, 20042009 137
17.16.4 Exploration and Development Wells Drilled, By Country/Region, 20042009 139
17.16.5 Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 20042009 141
17.16.6 Developed Reserves per Well, By Country/Region, 20042009 142

18 Appendix 145
18.1 Methodology 145
18.1.1 Coverage 145
18.1.2 Secondary Research 146
18.1.3 Primary Research 146
18.2 Data Sources 146
18.2.1 Company Source 146
18.2.2 SEC/Other Regulatory Filings 146
18.2.3 Agency Reports 146
18.2.4 Other Sources 147
18.3 Expert Panel Validation 147
18.4 Definitions 147
18.5 Units of Measure 147
18.6 About GlobalData 148
18.7 Disclosure 148
18.8 Disclaimer 148

Table 1: Occidental Petroleum Corporation, Key Events, May 2009May 2010 16
Table 2: Permian Basin, Top Crude Oil and Natural Gas Fields, 20042009 22
Table 3: Occidental Petroleum Corporation, Upstream Growth Profile, MMboe, 20102014 42
Table 4: Occidental Petroleum Corporation, Recent Transactions as a Buyer, 20082009 49
Table 5: Occidental Petroleum Corporation, Recent Transactions as a Seller, 20082009 50
Table 6: Occidental Petroleum Corporation, Forecast Production, 20072014 55
Table 7: GlobalData, Price Forecasts, 20102014 55
Table 8: Occidental Petroleum Corporation, Income Statement ($m), 20072014 56
Table 9: Occidental Petroleum Corporation, Balance Sheet ($m), 20072014 57
Table 10: Occidental Petroleum Corporation, Cash Flow Statement ($m), 20072014 58
Table 11: Occidental Petroleum Corporation, Profitability Ratios, 20072014 59
Table 12: Occidental Petroleum Corporation, Other Financial Ratios, 20072014 60
Table 13: GlobalData, Price Forecast, 20102014 61
Table 14: Occidental Petroleum Corporation, Net Asset Value, 2010 62
Table 15: Occidental Petroleum Corporation, Prospective Acreage & Non Proven Reserves, 2010 62
Table 16: Occidental Petroleum Corporation, NPV of Natural Gas Reserves, $/Mcf, 2010 63
Table 17: Occidental Petroleum Corporation, NPV of Oil/NGL Reserves, $/bbl, 2010 63
Table 18: Occidental Petroleum Corporation, NPV OF Total Oil and Natural Gas Reserves, $/boe, 2010 63
Table 19: Occidental Petroleum Corporation, Sensitivity Analysis on Fair Value ($/share), 2010 64
Table 20: Occidental Petroleum Vs. Peer Group, Operational and Financial Performance, 2009 66
Table 21: Occidental Petroleum and its Peer Group Comparison, Financial Ratios, 2009 69
Table 22: Occidental Petroleum Corporation, Upstream Capital Expenditure, Q2, 2009-Q2, 2010 72
Table 23: Occidental Petroleum Corporation, Total Crude Oil and Natural Gas, Production, Q2, 2009-Q2, 2010 73
Table 24: Occidental Petroleum Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q2, 2009-Q2, 2010 74
Table 25: Occidental Petroleum Corporation, Total Crude Oil Production, MMbbl, Q2, 2009-Q2, 2010 75
Table 26: Occidental Petroleum Corporation, Crude Oil Production, By Country/Region, MMbbl, Q2, 2009-Q2, 2010 76
Table 27: Occidental Petroleum Corporation, Total Natural Gas Production, Bcf, Q2, 2009-Q2, 2010 77
Table 28: Occidental Petroleum Corporation, Natural Gas Production, By Country/Region, Bcf, Q2, 2009-Q2, 2010 78
Table 29: Occidental Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 20042009 79
Table 30: Occidental Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 20042009 82
Table 31: Occidental Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 20042009 83
Table 32: Occidental Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 20042009 84
Table 33: Occidental Petroleum Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 20042009 86
Table 34: Occidental Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 20042009 87
Table 35: Occidental Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 20042009 88
Table 36: Occidental Petroleum Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 20042009 90
Table 37: Occidental Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 20042009 91
Table 38: Occidental Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 20042009 92
Table 39: Occidental Petroleum Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 20042009 95
Table 40: Occidental Petroleum Corporation, Upstream Capital Expenditure, $m, 20042009 96
Table 41: Occidental Petroleum Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 20042009 98
Table 42: Occidental Petroleum Corporation, Exploration and Development Costs, By Country/Region, $m, 20042009 100
Table 43: Occidental Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 20042009 102
Table 44: Occidental Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 20042009 105
Table 45: Occidental Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 20042009 106
Table 46: Occidental Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 20042009 111
Table 47: Occidental Petroleum Corporation, Revenue and Expenses, $m, 20042009 113
Table 48: Occidental Petroleum Corporation, Revenue and Expenses, By Country/Region, $m, 20042009 118
Table 49: Occidental Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, 20042009 120
Table 50: Occidental Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 20042009 124
Table 51: Occidental Petroleum Corporation, Oil and Gas Performance Metrics, 20042009 126
Table 52: Occidental Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 20042009 127
Table 53: Occidental Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 20042009 130
Table 54: Occidental Petroleum Corporation, Producible Oil and Gas Wells, 20042009 131
Table 55: Occidental Petroleum Corporation, Producible Oil and Gas Wells, By Country/Region, 20042009 135
Table 56: Occidental Petroleum Corporation, Exploratory and Developed Wells, 20042009 138
Table 57: Occidental Petroleum Corporation, Exploratory and Developed Wells, By Country/Region, 20042009 139
Table 58: Occidental Petroleum Corporation, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 20042009 141
Table 59: Occidental Petroleum Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 20042009 143
Figure 1: Occidental Petroleum Corporation, Operational Overview, 2010 11
Figure 2: Occidental Petroleum Corporation, Revenue by Segment, 2009 12
Figure 3: Occidental Petroleum Corporation, Earnings by Segment, 2009 13
Figure 4: Occidental Petroleum Corporation, Performance Charts, 20062009 14
Figure 5: Occidental Petroleum Corporation, Share Price Performance, May 2009June 2010 15
Figure 6: Major Crude Oil and Natural Gas Operators in California, Total Oil and Gas Production, MMboe, 2009 18
Figure 7: Occidental Petroleum Corporation, Free Cash Flow from the Kern County Discovery, California, $m, 20102016 19
Figure 8: Occidental Petroleum Corporation, Elk Hills Operational Map, 2009 20
Figure 9: Production From Major Players In The Permian Basin, MMboe, 20042009 21
Figure 10: Occidental Petroleum Corporation, Permian Basin Production, Mboe/d, 20072014 23
Figure 11: Occidental Petroleum Corporation, Permian Basin M&A Deal Summary (Buyers), 20002010 24
Figure 12: Occidental Petroleum Corporation, Production from Iraq, Mboe/d, 20102014 25
Figure 13: Occidental Petroleum Corporation, Production from Bahrain, Mboe/d, 20102014 26
Figure 14: Occidental Petroleum Corporation, Production from Oman, Mboe/d, 20102014 26
Figure 15: Occidental Petroleum Corporation, Production from Libya, Mboe/d, 20102014 27
Figure 16: Occidental Petroleum Corporation, Operating Cash Flow as % of Capex, 20072009 28
Figure 17: Occidental Petroleum Corporation, Debt to Capital Ratio, 20072009 29
Figure 18: Occidental Petroleum Corporation, Dividend Payout (%), 20042009 34
Figure 19: Occidental Petroleum Corporation, Free Cash Flows, $m, 20042010 34
Figure 20: Occidental Petroleum Corporation, Total Daily Production From Upstream Assets (Mboe/d), 20072014 35
Figure 21: Occidental Petroleum Corporation, Production Mix, 2009 36
Figure 22: Occidental Petroleum Corporation, Daily Oil and Gas Production, Mboe/d, 20052009 36
Figure 23: Occidental Petroleum Corporation, US Operations, 2010 37
Figure 24: Occidental Petroleum Corporation, California Overview, 2010 38
Figure 25: Occidental Petroleum Corporation, Permian Basin, 2010 39
Figure 26: Occidental Petroleum Corporation, Mid-Continent, 2010 39
Figure 27: Occidental Petroleum Corporation, Middle East/ North Africa Operations, 2010 40
Figure 28: Occidental Petroleum Corporation, Latin America Operations, 2010 41
Figure 29: Occidental Petroleum Corporation, Cost Incurred, $m, 20042009 43
Figure 30: Occidental Petroleum Corporation, Reserve Replacement and Finding and Development Cost, 20052009 44
Figure 31: Occidental Petroleum Corporation and its Peers, Total Net Developed and Undeveloped Acreage, Million Acres, 2009 44
Figure 32: Occidental Petroleum Corporation, Development Cost, $m, 20042009 45
Figure 33: Occidental Petroleum Corporation,(Marketing and Midstream Updates) Revenue, Earning and Segment Revenue as % of Total Revenue, 20072009 51
Figure 34: Occidental Petroleum Corporation,(Chemical Updates) Revenue, Earning and Segment Revenue as % of Total Revenue, 20072009 53
Figure 35: Occidental Petroleum Corporation and its peers, Relative Share Price Performance Index, May 20092010 65
Figure 36: Occidental Petroleum, F&D costs and Reserve Replacement Ratio, 2009 67
Figure 37: Occidental Petroleum, Operational and Financial Parameters in $/boe, 2009 67
Figure 38: Occidental Petroleum, Total Reserves and Production, MMboe, 2009 68
Figure 39: Occidental Petroleum Corporation and Peer Group Comparison, Valuation Ratio, 2009 70
Figure 40: Occidental Petroleum Corporation, Upstream Capital Expenditure, $m, Q2, 2009-Q2, 2010 72
Figure 41: Occidental Petroleum Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q2, 2009-Q2, 2010 73
Figure 42: Occidental Petroleum Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q2, 2009-Q2, 2010 74
Figure 43: Occidental Petroleum Corporation, Total Crude Oil Production, MMbbl, Q2, 2009-Q2, 2010 75
Figure 44: Occidental Petroleum Corporation, Crude Oil Production, By Country/Region, MMbbl, Q2, 2009-Q2, 2010 76
Figure 45: Occidental Petroleum Corporation, Total Natural Gas Production, Bcf, Q2, 2009-Q2, 2010 77
Figure 46: Occidental Petroleum Corporation, Natural Gas Production, By Country/Region, Bcf, Q2, 2009-Q2, 2010 78
Figure 47: Occidental Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 20042009 79
Figure 48: Occidental Petroleum Corporation, Total Proved Oil & Gas Reserves, By Country/Region, MMboe, 20042009 81
Figure 49: Occidental Petroleum Corporation, Total Oil & Gas Production, By Country/Region, MMboe, 20042009 81
Figure 50: Occidental Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 83
Figure 51: Occidental Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 20042009 84
Figure 52: Occidental Petroleum Corporation, Total Proved Oil Reserves, By Country/Region, MMbbl, 20042009 85
Figure 53: Occidental Petroleum Corporation, Oil Production, By Country/Region, MMbbl, 20042009 85
Figure 54: Occidental Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 2009 87
Figure 55: Occidental Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 20042009 88
Figure 56: Occidental Petroleum Corporation, Total Proved Gas Reserves, By Country/Region, Bcf, 20042009 89
Figure 57: Occidental Petroleum Corporation, Gas Production, By Country/Region, Bcf, 20042009 89
Figure 58: Occidental Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 2009 91
Figure 59: Occidental Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 20042009 92
Figure 60: Occidental Petroleum Corporation, Gas Reserve Life Index, By Country/Region, Years, 20042009 93
Figure 61: Occidental Petroleum Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 20042009 93
Figure 62: Occidental Petroleum Corporation, Oil Reserve Life Index, By Country/Region, Years, 20042009 94
Figure 63: Occidental Petroleum Corporation, Upstream Capital Expenditure, $m, 20042009 96
Figure 64: Occidental Petroleum Corporation, Proved Acquisition Costs, By Country/Region, $m, 20042009 97
Figure 65: Occidental Petroleum Corporation, Unproved Acquisition Costs, By Country/Region, $m, 20042009 97
Figure 66: Occidental Petroleum Corporation, Development Costs, By Country/Region, $m, 20042009 99
Figure 67: Occidental Petroleum Corporation, Exploration Costs, By Country/Region, $m, 20042009 99
Figure 68: Occidental Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 20042009 101
Figure 69: Occidental Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding & Development Cost per boe, By Country/Region, $/boe, 20042009 103
Figure 70: Occidental Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding Cost per boe, By Country/Region, $/Boe, 20042009 103
Figure 71: Occidental Petroleum Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, By Country/Region, $/boe, 20042009 104
Figure 72: Occidental Petroleum Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, By Country/Region, $/Boe, 20042009 104
Figure 73: Occidental Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 20042009 106
Figure 74: Occidental Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 20042009 108
Figure 75: Occidental Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 20042009 108
Figure 76: Occidental Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 20042009 109
Figure 77: Occidental Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 20042009 109
Figure 78: Occidental Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 20042009 110
Figure 79: Occidental Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 20042009 110
Figure 80: Occidental Petroleum Corporation, Revenue and Expenses, $m, 20042009 113
Figure 81: Occidental Petroleum Corporation, Depreciation, Depletion & Amortization , By Country/Region, $m, 20042009 114
Figure 82: Occidental Petroleum Corporation, Exploration Expenses, By Country/Region, $m, 20042009 114
Figure 83: Occidental Petroleum Corporation, Income Tax/(Benefit), By Country/Region, $m, 20042009 115
Figure 84: Occidental Petroleum Corporation, Net Income/ Loss, By Country/Region, $m, 20042009 115
Figure 85: Occidental Petroleum Corporation, Oil & Gas Revenue, By Country/Region, $m, 20042009 116
Figure 86: Occidental Petroleum Corporation, Pre-tax Profit, By Country/Region, $m, 20042009 116
Figure 87: Occidental Petroleum Corporation, Production Expenses, By Country/Region, $m, 20042009 117
Figure 88: Occidental Petroleum Corporation, Total Expenses, By Country/Region, $m, 20042009 117
Figure 89: Occidental Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, 20042009 120
Figure 90: Occidental Petroleum Corporation, Exploration Expenses per boe, By Country/Region, $/boe, 20042009 121
Figure 91: Occidental Petroleum Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 20042009 121
Figure 92: Occidental Petroleum Corporation, Lifting Cost per boe, By Country/Region, $/boe, 20042009 122
Figure 93: Occidental Petroleum Corporation, Annual Net Income per boe, By Country/Region, $/boe, 20042009 122
Figure 94: Occidental Petroleum Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 20042009 123
Figure 95: Occidental Petroleum Corporation, Total DD&A per boe, By Country/Region, $/boe, 20042009 123
Figure 96: Occidental Petroleum Corporation, Total Revenue per boe, By Country/Region, $/boe, 20042009 124
Figure 97: Occidental Petroleum Corporation, Oil and Gas Performance Metrics, 20042009 126
Figure 98: Occidental Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 20042009 127
Figure 99: Occidental Petroleum Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 20042009 128
Figure 100: Occidental Petroleum Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 20042009 128
Figure 101: Occidental Petroleum Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 20042009 129
Figure 102: Occidental Petroleum Corporation, Total Net Developed Acreage, By Country/Region, Acres, 20042009 129
Figure 103: Occidental Petroleum Corporation, Producible Oil and Gas Wells, 20042009 131
Figure 104: Occidental Petroleum Corporation, Gross Producible Gas Wells, By Country/Region, Number, 20042009 132
Figure 105: Occidental Petroleum Corporation, Gross Producible Oil & Gas Wells, By Country/Region, Number, 20042009 132
Figure 106: Occidental Petroleum Corporation, Gross Producible Oil Wells, By Country/Region, Number, 20042009 133
Figure 107: Occidental Petroleum Corporation, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, By Country/Region, %, 20042009 133
Figure 108: Occidental Petroleum Corporation, Net Producible Gas Wells, By Country/Region, Number, 20042009 134
Figure 109: Occidental Petroleum Corporation, Net Producible Oil & Gas Wells, By Country/Region, Number, 20042009 134
Figure 110: Occidental Petroleum Corporation, Net Producible Oil Wells, By Country/Region, Number, 20042009 135
Figure 111: Occidental Petroleum Corporation, Exploratory and Developed Wells, 20042009 137
Figure 112: Occidental Petroleum Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 20042009 142
Figure 113: Occidental Petroleum Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 20042009 142
Figure 114: Occidental Petroleum Corporation, Developed Oil Reserves per Well (Mbbls per Well), By Country/Region, 20042009 143
Figure 115: GlobalData Methodology, 2010 145