International average production came within the high-end of guidance with 236 Mboed. Permian average production came within guidance with 523 Mboed. Total average global production of 1,180 thousand of barrels of oil equivalent per day (Mboed) for the third quarter of 2022 exceeded the midpoint of guidance by 25 Mboed. Average domestic realized gas prices increased by approximately 13 percent from the prior quarter to $7.06 per Mcf. Average worldwide realized NGL prices decreased by approximately 16 percent from the prior quarter to $35.22 per barrel. Average worldwide realized crude oil prices decreased by approximately 12 percent from the prior quarter to $94.89 per barrel. For the third quarter of 2022, average WTI and Brent marker prices were $91.55 per barrel and $97.59 per barrel, respectively. Excluding items affecting comparability, the decrease in third quarter of 2022 oil and gas income compared to the second quarter of 2022 was due to lower crude oil and natural gas liquids (NGL) prices, partially offset by higher sales volumes across all commodities, higher gas prices and lower DD&A rates. Oil and gas pre-tax income on continuing operations for the third quarter of 2022 was $3.3 billion, compared to pre-tax income of $4.1 billion for the second quarter of 2022. "We are close to completing our $3 billion share repurchase program and achieved another debt reduction milestone, with the face value of our debt now below $19 billion.” “The excellent operational performance of our businesses in the third quarter was a key driver of our strong financial results, enabling us to raise our full-year guidance for all of our business segments and generate free cash flow to advance our shareholder returns and deleverage our balance sheet," said President and Chief Executive Officer Vicki Hollub. Third quarter after-tax items affecting comparability were $81 million. This is compared to net income attributable to common stockholders for the second quarter of 2022 of $3.6 billion, or $3.47 per diluted share, and adjusted income attributable to common stockholders of $3.2 billion, or $3.16 per diluted share. HOUSTON - NovemOccidental (NYSE: OXY) today announced net income attributable to common stockholders for the third quarter of 2022 of $2.5 billion, or $2.52 per diluted share, and adjusted income attributable to common stockholders of $2.5 billion, or $2.44 per diluted share. Increased full-year guidance for all three segments on strong third quarter results and improved outlook for Ox圜hem and midstream and marketing.Ox圜hem and midstream and marketing segments exceeded guidance with pre-tax earnings of $580 million and $104 million, respectively.Exceeded production guidance midpoint by 25 Mboed, with production of 1,180 Mboed.Capital spending of $1.1 billion, resulting in quarterly free cash flow before working capital of $3.6 billion.Cash flow from continuing operations of $4.3 billion and cash flow from continuing operations before working capital of $4.7 billion. Earnings per diluted share of $2.52 and adjusted earnings per diluted share of $2.44.Repurchased over 28.4 million shares for $1.8 billion during the third quarter, with year-to-date repurchases of 41.8 million shares for $2.6 billion through November 7, 2022.Repaid $1.3 billion of debt during the third quarter, with year-to-date repayments of $9.6 billion through November 7, 2022, representing 34% reduction of total outstanding principal.Tuesday, Novem4:15 PM ET Occidental Announces 3rd Quarter 2022 Results
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