Occidental Petroleum Corporation · NYSE:OXY
Occidental Petroleum — Q1 2008 Earnings Presentation
15 slides from Occidental Petroleum's earnings presentation, Apr 24, 2008
Slide 1: Investor Relations Supplemental Schedules Summary
EXHIBIT 99.3 Investor Relations Supplemental Schedules Investor Relations Supplemental Schedules Summary ($ Millions) 1Q 2008 1Q 2007 Reported Net Income $1,846 $1,212 EPS - Diluted $2.23 $1.43 Core Results $1,819 $788 EPS - Diluted $2.20 $0.93 Total Worldwide Production (mboe/day) 607 560 Total Wor
Slide 2: 2008 First Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 First Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 2,888 $ 2,888 Chemical 179 179 Midstream, marketing and other 123 123 Corporate Interest expense, net — — Other
Slide 3: 2007 First Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 First Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 1,883 $ (412) Sale of Russian operations $ 1,362 $ (109) Legal settlements Chemical 137 137 Midstream, marketin
Slide 4: Items Affecting Comparability of Core Results Between Periods
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Items Affecting Comparability of Core Results Between Periods The item(s) below are included in core results and are shown in this table because they affect the comparability between periods. Pre-tax Income / (Expense) First Quarter 2008
Slide 5: Worldwide Effective Tax Rate
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Worldwide Effective Tax Rate QUARTERLY 2008 2007 2007 REPORTED INCOME QTR 1 QTR 4 QTR 1 Oil & Gas (a) 2,888 2,463 1,883 Chemicals 179 94 137 Midstream, marketing and other 123 136 119 Corporate & other (77) (188) (286) Pre-tax income 3,1
Slide 6: 2008 First Quarter Net Income (Loss) Comparison to Fourth Quarter
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 First Quarter Net Income (Loss) Reported Income Comparison First Fourth Quarter Quarter 2008 2007 B / (W) Oil & Gas $ 2,888 $ 2,463 $ 425 Chemical 179 94 85 Midstream, marketing and other 123 136 (13) Corporate Interest expense, net
Slide 7: Variance Analysis 1Q08 vs. 4Q07
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 1Q08 vs. 4Q07 ($ millions) OCCIDENTAL PETROLEUM Chemical Variance Analysis 1Q08 vs. 4Q07 ($ millions) *Primarily higher energy costs 7
Slide 8: 2008 First Quarter Net Income (Loss) Comparison to First Quarter 2007
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 First Quarter Net Income (Loss) Reported Income Comparison First First Quarter Quarter 2008 2007 B / (W) Oil & Gas $ 2,888 $ 1,883 $ 1,005 Chemical 179 137 42 Midstream, marketing and other 123 119 4 Corporate Interest expense, net
Slide 9: Variance Analysis 1Q08 vs. 1Q07
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 1Q08 vs. 1Q07 ($ millions) * DD&A rate increase (31) and higher operating expenses OCCIDENTAL PETROLEUM Chemical Variance Analysis 1Q08 vs. 1Q07 ($ millions) * Higher energy and feedstock costs
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Slide 11: Summary of Operating Statistics
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS First Quarter 2008 2007 NET PRODUCTION PER DAY: United States Crude Oil and Liquids (MBL) California 87 85 Permian 170 165 Hugoton and other 4 4 Total 261 254 Natural Gas (MMCF) California 245 232 Hugoton
Slide 12: Summary of Operating Statistics
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS First Quarter 2008 2007 OIL & GAS: PRICES United States Crude Oil ($/BBL) 90.21 51.94 Natural gas ($/MCF) 8.15 6.38 Latin America Crude Oil ($/BBL) 67.26 45.71 Natural Gas ($/MCF) 3.80 1.94 Middle East / N
Slide 13: Summary of Operating Statistics
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS First Quarter Capital Expenditures ($MM) 2008 2007 Oil & Gas California $ 164 $ 128 Permian 100 133 Other - U.S. 48 42 Latin America 180 114 Middle East / North Africa 266 294 Other Eastern Hemisphere — 1
Slide 14: Corporate
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM CORPORATE ($ millions) 31-Mar-08 31-Dec-07 CAPITALIZATION Long-Term Debt (including current maturities) $ 1,775 $ 1,776 Notes Payable 30 12 Others 25 25 Total Debt $ 1,830 $ 1,813 EQUITY $ 23,944 $ 22,823 Total Debt To Total Capitalizati
Slide 15: Forward-looking statements
Investor Relations Supplemental Schedules Statements in this presentation that contain words such as "will," "expect," or "estimate," or otherwise relate to the future, are forward-looking and involve risks and uncertainties that could materially affect expected results. Factors that could cause res