Occidental Petroleum Corporation · NYSE:OXY
Occidental Petroleum — Q4 2008 Earnings Presentation
16 slides from Occidental Petroleum's earnings presentation, Jan 29, 2009
Slide 1: Investor Relations Supplemental Schedules Summary
EXHIBIT 99.3 Investor Relations Supplemental Schedules Investor Relations Supplemental Schedules Summary ($ Millions) 4Q 2008 4Q 2007 Reported Net Income $443 $1,452 EPS - Diluted $0.55 $1.74 Core Results $957 $1,464 EPS - Diluted $1.18 $1.76 Total Worldwide Sales Volumes (mboe/day) 620 590 Total Wo
Slide 2: 2008 Fourth Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 Fourth Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 339 $ 58 Rig contract terminations 996 599 Asset impairments Chemical 127 90 Plant closure and impairments 217
Slide 3: 2007 Fourth Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Fourth Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 2,461 $ 2,461 Chemical 94 94 Midstream, marketing and other 138 138 Corporate Interest expense, net (13) (13)
Slide 4: 2008 Total Year Net Income
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 Total Year Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 10,651 $ 58 Rig contract terminations $ 11,308 599 Asset impairments Chemical 669 90 Plant closure and impairments
Slide 5: 2007 Total Year Net Income
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Total Year Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Results Oil & Gas $ 7,957 $ (412) Sale of Russian operations $ 7,369 (112) Legal settlements (103) Sale of exploration properties (35)
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) Fourth Quarter 12
Slide 7: Worldwide Effective Tax Rate
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Worldwide Effective Tax Rate QUARTERLY YEAR TO-DATE 2008 2008 2007 2008 2007 REPORTED INCOME QTR 4 QTR 3 QTR 4 12 Months 12 Months Oil & Gas (a) 339 3,618 2,461 10,651 7,957 Chemicals 127 219 94 669 601 Midstream, marketing and other 170
Slide 8: 2008 Fourth Quarter vs Third Quarter Income Comparison
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 Fourth Quarter Net Income (Loss) Reported Income Comparison Fourth Third Quarter Quarter 2008 2008 B / (W) Oil & Gas $ 339 $ 3,618 $ (3,279) Chemical 127 219 (92) Midstream, marketing and other 170 66 104 Corporate Interest expense,
Slide 9: Oil & Gas and Chemical Variance Analysis 4Q08 vs. 3Q08
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 4Q08 vs. 3Q08 ($ Millions) *Includes foreign tax liability f/x gains of $76 million OCCIDENTAL PETROLEUM Chemical Variance Analysis 4Q08 vs. 3Q08 ($ Millions) *Lower energy and feedstock costs 9
Slide 10: 2008 Fourth Quarter vs 2007 Fourth Quarter Income Comparison
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2008 Fourth Quarter Net Income (Loss) Reported Income Comparison Fourth Fourth Quarter Quarter 2008 2007 B / (W) Oil & Gas $ 339 $ 2,461 $ (2,122) Chemical 127 94 33 Midstream, marketing and other 170 138 32 Corporate Interest expense, n
Slide 11: Oil & Gas and Chemical Variance Analysis 4Q08 vs. 4Q07
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 4Q08 vs. 4Q07 ($ Millions) * DD&A rate increase and higher operating expenses OCCIDENTAL PETROLEUM Chemical Variance Analysis 4Q08 vs. 4Q07 ($ Millions) * Lower feedstock costs 11
Slide 12: Summary of Operating Statistics: Sales Volumes
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Fourth Quarter Twelve Months 2008 2007 2008 2007 SALES VOLUMES PER DAY: United States Crude Oil and Liquids (MBL) California 97 88 89 89 Permian 167 170 168 167 Midcontinent and Rockies 9 4 6 4 Total 273 2
Slide 13: Summary of Operating Statistics: Net Production
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Fourth Quarter Twelve Months 2008 2007 2008 2007 NET PRODUCTION PER DAY: United States Crude Oil and Liquids (MBL) 273 262 263 260 Natural Gas (MMCF) 596 578 587 593 Latin America Crude Oil (MBL) Argentina
Slide 14: Summary of Operating Statistics: Prices and Exploration Expense
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Fourth Quarter Twelve Months 2008 2007 2008 2007 OIL & GAS: PRICES United States Crude Oil ($/BBL) 52.64 83.17 91.16 65.67 Natural gas ($/MCF) 4.67 6.77 8.03 6.53 Latin America Crude Oil ($/BBL) 47.48 67.9
Slide 15: Capital Expenditures and DD&A
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Fourth Quarter Twelve Months Capital Expenditures ($MM) 2008 2007 2008 2007 Oil & Gas California $ 244 $ 140 $ 802 $ 573 Permian 207 77 485 367 Other U.S. 149 59 389 201 Latin America 301 192 848 508 Middl
Slide 16: Corporate Capitalization
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM CORPORATE ($ millions) 31-Dec-08 31-Dec-07 CAPITALIZATION Long-Term Debt (including current maturities) $ 2,740 $ 1,776 Notes Payable 7 12 Others 25 25 Total Debt $ 2,772 $ 1,813 EQUITY $ 27,300 $ 22,823 Total Debt To Total Capitalizatio