Occidental Petroleum Corporation · NYSE:OXY

Occidental Petroleum — Q2 2005 Earnings Presentation

18 slides from Occidental Petroleum's earnings presentation, 2005

  1. Slide 1: Supplemental Schedules: 2005 Second Quarter Net Income (Loss)

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2005 Second Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Earnings Oil & Gas $ 1,325 $ 26 Contract settlement $ 1,351 Chemical 225 225 Corporate Interest expense, net (47) 1 Debt redemptio

  2. Slide 2: Supplemental Schedules: 2004 Second Quarter Net Income (Loss)

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2004 Second Quarter Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Earnings Oil & Gas $ 980 $ 980 Chemical 92 92 Corporate Interest expense, net (60) (60) Other (44) (44) Taxes (384) (384) Income f

  3. Slide 3: Supplemental Schedules: 2005 First Six Months Net Income (Loss)

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2005 First Six Months Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Earnings Oil & Gas $ 2,674 $ 26 Contract settlement $ 2,700 Chemical 439 439 Corporate Interest expense, net (108) 11 Debt redem

  4. Slide 4: Supplemental Schedules: 2004 First Six Months Net Income (Loss)

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2004 First Six Months Net Income (Loss) ($ millions) Reported Core Income Significant Items Affecting Income Earnings Oil & Gas $ 1,895 $ 1,895 Chemical 148 148 Corporate Interest expense, net (128) 11 Trust preferred redemption (117) Ot

  5. Slide 5: Items Affecting Comparability of Core Earnings Between Periods

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Items Affecting Comparability of Core Earnings Between Periods The item(s) below are included in core earnings but are shown in this table because they affect the comparability of core earnings between periods. Pre­tax Income / (Expense)

  6. Slide 6: Worldwide Effective Tax Rate

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Worldwide Effective Tax Rate QUARTERLY YEAR TO­DATE 2005 2005 2004 2005 2004 REPORTED INCOME QTR 2 QTR 1 QTR 2 6 Months 6 Months Oil & Gas (a) 1,325 1,349 980 2,674 1,895 Chemicals 225 214 92 439 148 Corporate & other 26 (112) (104) (86)

  7. Slide 7: 2005 Second Quarter vs First Quarter Income Comparison

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2005 Second Quarter Net Income (Loss) Reported Income Comparison Second First Quarter Quarter 2005 2005 B / (W) Oil & Gas $ 1,325 $ 1,349 $ (24) Chemical 225 214 11 Corporate Interest expense, net (47) (61) 14 Other 73 (51) 124 Taxes (44

  8. Slide 8: Core Earnings Variance Analysis: Q2 vs Q1 2005

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Core Earnings Variance Analysis ($ millions) 2005 2nd Quarter $ 1,351 2005 1st Quarter 1,349 $ 2 Sales Price $ 128 Sales Volume/Mix (24) Exploration Expense (65) All Others (37) TOTAL VARIANCE $ 2 OCCIDENTAL PETROLEUM Chemical

  9. Slide 9: 2005 Second Quarter vs 2004 Second Quarter Income Comparison

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2005 Second Quarter Net Income (Loss) Reported Income Comparison Second Second Quarter Quarter 2005 2004 B / (W) Oil & Gas $ 1,325 $ 980 $ 345 Chemical 225 92 133 Corporate Interest expense, net (47) (60) 13 Other 73 (44) 117 Taxes (44)

  10. Slide 10: Core Earnings Variance Analysis: Q2 2005 vs Q2 2004

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Core Earnings Variance Analysis ($ millions) 2005 2nd Quarter $ 1,351 2004 2nd Quarter 980 $ 371 Sales Price $ 541 Sales Volume/Mix (12) Exploration Expense (71) All Others (87) TOTAL VARIANCE $ 371 OCCIDENTAL PETROLEUM Chemica

  11. Slide 11: Summary of Operating Statistics: Net Production

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Second Quarter Six Months 2005 2004 2005 2004 NET PRODUCTION PER DAY: United States Crude Oil and Liquids (MBL) California 75 78 76 78 Permian 156 156 152 155 Horn Mountain 11 23 14 23 Hugoton 3 3 3 3 Tota

  12. Slide 12: Summary of Operating Statistics: Prices and Exploration Expense

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Second Quarter Six Months 2005 2004 2005 2004 OIL & GAS: PRICES United States Crude Oil ($/BBL) 46.72 35.44 45.47 34.02 Natural gas ($/MCF) 6.18 4.90 6.07 4.95 Latin America Crude Oil ($/BBL) 42.09 30.60 4

  13. Slide 13: Chemicals: Chlorine Volumes, Prices and Commentary

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM CHEMICALS Volume (M Tons, except PVC Resins) Second Quarter Six Months MAJOR PRODUCTS 2005 2004 2005 2004 Chlorine 746 740 1,451 1,446 Caustic soda 768 819 1,482 1,551 Ethylene Dichloride 175 100 305 222 PVC Resins (millions of pounds) 9

  14. Slide 14: Caustic and EDC Commentary

    Investor Relations Supplemental Schedules Influencing Factors: Inventory reductions in the vinyls chain coupled with cooler, wet weather throughout most of the East and Midwest dampened domestic chlorine demand in the 2nd quarter. Although this lessened concerns over chlorine availability, several p

  15. Slide 15: PVC/VCM Commentary

    Investor Relations Supplemental Schedules Influencing Factors: Prices for EDC in the Far East have stabilized after significant declines in the 2nd quarter. EDC prices are expected to rebound as VCM and PVC pricing improves. Continued VCM outages in Asia have unfavorably impacted the supply/demand b

  16. Slide 16: Capital Expenditures and Depreciation, Depletion & Amortization

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Second Quarter Six Months Capital Expenditures ($MM) 2005 2004 2005 2004 Oil & Gas California $ 90 $ 83 $ 172 $ 144 Permian 96 63 159 125 Other ­ U.S. 33 8 62 12 Latin America 48 63 99 83 Middle East / Nor

  17. Slide 17: Corporate Capitalization

    Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM CORPORATE ($ millions) 30­Jun­05 31­Dec­04 CAPITALIZATION Oxy Long­Term Debt (including current maturities) $ 3,360 $ 3,804 Subsidiary Preferred Stock 75 75 Others 26 26 Total Debt $ 3,461 $ 3,905 EQUITY $ 12,706 $ 10,550 Total Debt To T

  18. Slide 18: 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 forward­looking and involve risks and uncertainties that could significantly affect expected results. Factors that could cause r

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