Occidental Petroleum Corporation · NYSE:OXY
Occidental Petroleum — Q3 2007 Earnings Presentation
16 slides from Occidental Petroleum's earnings presentation, Oct 24, 2007
Slide 1: Investor Relations Supplemental Schedules Summary
EXHIBIT 99.3 Investor Relations Supplemental Schedules Investor Relations Supplemental Schedules Summary ($ Millions) 3Q 2007 3Q 2006 Reported Net Income $1,324 $1,170 EPS - Diluted $1.58 $1.36 Core Results $1,210 $1,103 EPS - Diluted $1.45 $1.28 Total Worldwide Production (mboe/day) 570 533 Total W
Slide 2: 2007 Third Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Third Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 2,029 $ (12) Sale of oil & gas interests $ 1,988 74 Exploration Impairments (103) Sale of exploration propertie
Slide 3: 2006 Third Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2006 Third Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 1,790 $ 1,790 Chemical 248 248 Corporate Interest expense, net (18) (18) Other (59) (59) Taxes (858) (858) Inco
Slide 4: 2007 First Nine Months
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 First Nine Months Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 5,719 $ (412) Sale of Russia $ 5,131 (112) Litigation settlements (35) Sale of oil & gas interests 74 Explo
Slide 5: 2006 First Nine Months
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2006 First Nine Months Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 5,458 $ 5,458 Chemical 749 749 Corporate Interest expense, net (80) (80) Other (212) (212) Taxes (2,583) (2
Slide 6: 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) Third Quarter Nine
Slide 7: Worldwide Effective Tax Rate
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Worldwide Effective Tax Rate QUARTERLY YEAR-TO-DATE 2007 2007 2006 2007 2006 REPORTED INCOME QTR 3 QTR 2 QTR 3 9 Months 9 Months Oil & Gas (a) 2,029 1,682 1,790 5,719 5,458 Chemicals 212 158 248 507 749 Corporate & other (63) 209 (77) (1
Slide 8: 2007 Third Quarter Income Comparison vs. Second Quarter
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Third Quarter Net Income (Loss) Reported Income Comparison Third Second Quarter Quarter 2007 2007 B / (W) Oil & Gas $ 2,029 $ 1,682 $ 347 Chemical 212 158 54 Corporate Interest expense, net (11) 6 (17) Other (52) 203 (255) Taxes (86
Slide 9: Variance Analysis 3Q07 vs. 2Q07
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 3Q07 vs. 2Q07 ($ millions) * Higher operating expense OCCIDENTAL PETROLEUM Chemical Variance Analysis 3Q07 vs. 2Q07 ($ millions) 9
Slide 10: 2007 Third Quarter Income Comparison vs. Third Quarter 2006
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Third Quarter Net Income (Loss) Reported Income Comparison Third Third Quarter Quarter 2007 2006 B / (W) Oil & Gas $ 2,029 $ 1,790 $ 239 Chemical 212 248 (36) Corporate Interest expense, net (11) (18) 7 Other (52) (59) 7 Taxes (862)
Slide 11: Variance Analysis 3Q07 vs. 3Q06
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 3Q07 vs. 3Q06 ($ millions) * DD&A rate increase (40) and higher operating expenses OCCIDENTAL PETROLEUM Chemical Variance Analysis 3Q07 vs. 3Q06 ($ millions) * Lower energy and feedstock costs 11
Slide 12: Summary of Operating Statistics: Net Production
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Third Quarter Nine Months 2007 2006 2007 2006 NET PRODUCTION PER DAY: United States Crude Oil and Liquids (MBL) California 90 84 89 83 Permian 171 168 167 167 Hugoton and other 4 3 3 3 Total 265 255 259 25
Slide 13: Summary of Operating Statistics: Prices and Exploration Expense
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Third Quarter Nine Months 2007 2006 2007 2006 OIL & GAS: PRICES United States Crude Oil ($/BBL) 68.83 62.38 59.71 59.74 Natural gas ($/MCF) 5.90 5.88 6.45 6.79 Latin America Crude Oil ($/BBL) 60.77 55.19 5
Slide 14: Capital Expenditures and DD&A
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Third Quarter Nine Months Capital Expenditures ($MM) 2007 2006 2007 2006 Oil & Gas California $ 160 $ 150 $ 445 $ 376 Permian 153 149 470 414 Other - U.S. 43 63 143 190 Latin America 136 98 359 223 Middle
Slide 15: Corporate Capitalization
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM CORPORATE ($ millions) 30-Sep-07 31-Dec-06 CAPITALIZATION Long-Term Debt (including current maturities) $ 1,904 $ 2,790 Subsidiary Preferred Stock 75 75 Others 25 25 Total Debt $ 2,004 $ 2,890 EQUITY $ 21,901 $ 19,252 Total Debt To Total
Slide 16: Forward-looking statements and non-GAAP notice
Investor Relations Supplemental Schedules See the investor relations supplemental schedules for the reconciliation of non-GAAP items. 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 an