Occidental Petroleum Corporation · NYSE:OXY
Occidental Petroleum — Q2 2007 Earnings Presentation
15 slides from Occidental Petroleum's earnings presentation, Jul 24, 2007
Slide 1: Investor Relations Supplemental Schedules Summary
EXHIBIT 99.3 Investor Relations Supplemental Schedules Investor Relations Supplemental Schedules Summary ($ Millions) 2Q 2007 2Q 2006 Reported Net Income $1,412 $860 EPS - Diluted $1.68 $0.99 Total Worldwide Production (mboe/day) 583 609 Total Worldwide Crude Oil Realizations ($/BBL) $59.11 $61.66 D
Slide 2: 2007 Second Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Second Quarter Net Income (Loss) ($ millions) Reported Income Significant Items Affecting Income Asset Sales Oil & Gas $ 1,682 $ (23) Sale of mineral interests Chemical 158 Corporate Interest expense, net 6 Other 470 (284) Sale of L
Slide 3: 2006 Second Quarter Net Income (Loss)
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2006 Second Quarter Net Income (Loss) ($ millions) Reported Income Significant Items Affecting Income Oil & Gas $ 1,857 Chemical 251 Corporate Interest expense, net (33) Other (364) 415 Ecuador write-off, net of tax (45) Ecuador operatio
Slide 4: 2007 First Six Months Net Income
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 First Six Months Net Income (Loss) ($ millions) Reported Income Significant Items Affecting Income Oil & Gas $ 3,690 $ (412) Sale of Russia – Vanyoganneft (112) Litigation settlements (23) Sale of mineral interests Chemical 295 Corp
Slide 5: 2006 First Six Months Net Income
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2006 First Six Months Net Income (Loss) ($ millions) Reported Income Significant Items Affecting Income Oil & Gas $ 3,668 Chemical 501 Corporate Interest expense, net (62) Other (291) 415 Ecuador write-off, net of tax (109) Ecuador opera
Slide 6: 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 2 QTR 1 QTR 2 6 Months 6 Months Oil & Gas (a) 1,682 2,008 1,857 3,690 3,668 Chemicals 158 137 251 295 501 Corporate & other 209 (292) (115)
Slide 7: 2007 Second Quarter Reported Income Comparison
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Second Quarter Net Income (Loss) Reported Income Comparison Second First Quarter Quarter 2007 2007 B / (W) Oil & Gas $ 1,682 $ 2,008 $ (326) Chemical 158 137 21 Corporate Interest expense, net 6 (181) 187 Other 470 (68) 538 Taxes (9
Slide 8: Oil & Gas and Chemical Variance Analysis 2Q07 vs. 1Q07
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 2Q07 vs. 1Q07 ($ millions) OCCIDENTAL PETROLEUM Chemical Variance Analysis 2Q07 vs. 1Q07 ($ millions) * Higher energy and feedstock cost 8
Slide 9: 2007 vs 2006 Second Quarter Reported Income Comparison
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM 2007 Second Quarter Net Income (Loss) Reported Income Comparison Second Second Quarter Quarter 2007 2006 B / (W) Oil & Gas $ 1,682 $ 1,857 $ (175) Chemical 158 251 (93) Corporate Interest expense, net 6 (33) 39 Other 470 (364) 834 Taxes
Slide 10: Oil & Gas and Chemical Variance Analysis 2Q07 vs. 2Q06
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM Oil & Gas Variance Analysis 2Q07 vs. 2Q06 ($ millions) * DD&A rate increase (46) and higher operating expenses OCCIDENTAL PETROLEUM Chemical Variance Analysis 2Q07 vs. 2Q06 ($ millions) 10
Slide 11: Summary of Operating Statistics
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Second Quarter Six Months 2007 2006 2007 2006 NET PRODUCTION PER DAY: United States Crude Oil and Liquids (MBL) California 93 82 89 83 Permian 163 168 164 167 Hugoton and other 3 3 4 3 Total 259 253 257 25
Slide 12: Summary of Operating Statistics: Prices and Exploration Expense
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Second Quarter Six Months 2007 2006 2007 2006 OIL & GAS: PRICES United States Crude Oil ($/BBL) 58.19 61.78 55.09 58.40 Natural gas ($/MCF) 7.07 6.23 6.74 7.25 Latin America Crude Oil ($/BBL) 52.57 56.47 4
Slide 13: Summary of Operating Statistics: Capital Expenditures and DD&A
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM SUMMARY OF OPERATING STATISTICS Second Quarter Six Months Capital Expenditures ($MM) 2007 2006 2007 2006 Oil & Gas California $ 153 $ 123 $ 285 $ $ 226 Permian 153 138 317 265 Other - U.S. 57 64 100 127 Latin America 109 78 223 125 Middl
Slide 14: Corporate Capitalization
Investor Relations Supplemental Schedules OCCIDENTAL PETROLEUM CORPORATE ($ millions) 30-Jun-07 31-Dec-06 CAPITALIZATION Long-Term Debt (including current maturities) $ 1,880 $ 2,790 Subsidiary Preferred Stock 75 75 Others 25 25 Total Debt $ 1,980 $ 2,890 EQUITY $ 21,111 $ 19,252 Total Debt To Total
Slide 15: Forward-looking statements and non-GAAP note
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