Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1.327 million barrels of oil equivalent per day in 2024 at a ratio of roughly 52% oil and natural gas liquids and 48% natural gas.www.oxy.com
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Search complete. 34 mentions across 29 episodes found for "Occidental Petroleum".
Sep 23, 2026
Larry McDonaldGUEST
We're long Schlumberger in our m- our core portfolio for, like, the last year and a half in trade alerts.
Larry McDonaldGUEST
Uh, we're long Occidental Petroleum.
Larry McDonaldGUEST
Berkshire Has- Hathaway's a b- big holder there.
Larry McDonaldGUEST
So at the, at the bottom line, at the end of the day, re- remember, remember, there's 41 trillion in the NASDAQ 100.
Gabriel WisdomGUEST
The B shares were created to make it easier for individuals and retirement plans to buy Berkshire if you want it.
Gabriel WisdomGUEST
But one of their major holdings, Occidental Petroleum, has been a real standout this year.
Gabriel WisdomGUEST
And I'm sure that Warren Buffett, he seems to be still with it.
Gabriel WisdomGUEST
I mean, he's in his late 90s now, but he won't step away completely.
Gabriel WisdomGUEST
So this is a major component with regard to inflation.
Gabriel WisdomGUEST
The rising diesel prices, by the way, have benefited the refiners and their stock prices.
Gabriel WisdomGUEST
I mentioned Occidental Petroleum, a major Berkshire Hathaway holding.
Gabriel WisdomGUEST
But there's Marathon, Phillips 66, Valero.
Stu TurleyHOST
Yep
Charlie GarciaGUEST
... is energy-related, and the last thing he did before leaving was buying more Occidental Petroleum, you're like-
Stu TurleyHOST
Yeah
Charlie GarciaGUEST
... "Okay, that's a smart guy."
23 MINS LATER
Charlie GarciaGUEST
And they, you know, even when, even when oil was, like, at -$38, they increased their, their dividend.
Charlie GarciaGUEST
Um, love ExxonMobil, Chevron, just, you know, Cheniere, LNG.
Charlie GarciaGUEST
Um, I finally got into, uh, Occidental Petroleum, which was Warren Buffett's last buy before he left, uh, or became chairman.
Charlie GarciaGUEST
Now he's, he stepped down over the weekend.
Arjun MurtiHOST
It wasn't right for this broader group of companies.
Arjun MurtiHOST
One company that stood apart in that environment, and I've mentioned them in prior episodes of SuperSpiked, was actually the management team of Dr. Ray Arani and Steve Chasen at Oxy, who actually levered up to buy Elk Hills in California and El Tur in the Permian Basin.
Arjun MurtiHOST
And they made the call, the crazy call, that oil wasn't going to be 15 to 20 forever.
Arjun MurtiHOST
It might actually be $21 a barrel.
Arjun MurtiHOST
So again, where we are in these eras is relevant.
Arjun MurtiHOST
When is an era running its course? I don't think we have to have anticipated, again, the China super cycle when I think back to this period.
Arjun MurtiHOST
But I think the sort of leaning in a little bit, as again, I'm going to give Oxy as the example of doing so, they deserve credit for the moves that, again, Dr. Irani and Steve Chasen made in the late 90s and early 2000s.
Arjun MurtiHOST
So I'm now going to fast forward to 2006, which was my first appearance at the Oxford Energy Seminar.
Héctor Mario RodríguezGUEST
En Colombia, pues se venían vendiendo un poco de activos petroleros, eh, que todos son muy pequeños, en verdad.
Héctor Mario RodríguezGUEST
El único que ha descubierto un activo muy grande en Colombia recientemente fue primero Oxy, eh, con Cupiagua y demás, que además es, tiene un frente gasífero muy importante, y Rubiales, que tiene un petróleo que explica mucho lo que está sucediendo hoy en este negocio, pero que es distinto al negocio que existe en los demás.
Héctor Mario RodríguezGUEST
Todos los demás tienen, eh, petróleo ligero, mientras que el petróleo que hay es de Rubiales es pesado, que es en verdad lo que pasa en la franja de Orinoco de Venezuela, crudo pesado, que requiere unas especificaciones distintas y demás.
Héctor Mario RodríguezGUEST
Entonces, el señor Park entró con otro petrolero muy, eh, pues más renombrado que, que en verdad, eh, eh, que, eh, que sea efectista desde de, de estar en otros negocios petroleros.
Kai RyssdalHOST
On the oil side of things, ConocoPhillips gained a half percent.
Kai RyssdalHOST
Occidental Petroleum did one tenth of 1% on the day.
Kai RyssdalHOST
The sun shined on solar panel maker First Solar, added five and three tenths percent on the day.
Kai RyssdalHOST
Bonds up, yield on the 10-year T note backed off just a little bit, 4.93%.
Ashe in AmericaHOST
Chevron and Oman formed a consortium to build a huge pipeline to carry crude oil from Kazakhstan to the Black Sea, Mediterranean, and Persian Gulf.
Ashe in AmericaHOST
Occidental Petroleum signed a joint venture with Russia to modernize two oil fields in Siberia.
Ashe in AmericaHOST
Newmont Mining signed a joint venture to extract gold in Uzbekistan.
Ashe in AmericaHOST
Merrill Lynch's chairman, William Schreier, CFR, signed up as a financial advisor to aid in privatizing the Ukrainian state property fund.
Kai RyssdalHOST
On the oil side of things, ConocoPhillips gained a half percent.
Kai RyssdalHOST
Occidental Petroleum did one-tenth of one percent on the day.
Kai RyssdalHOST
The sun shined on solar panel maker First Solar, added five and three-tenths percent on the day.
Kai RyssdalHOST
Bonds up yield on the 10-year T-note, backed off just a little bit, 4.93 percent.
Housley CarrNARRATOR
The group repaid $4.1 billion, or 19% of CFOA, following the outsized $7.9 billion repaid in Q1.
Housley CarrNARRATOR
Occidental Petroleum, $1.8 billion, and Diamondback Energy, $1.2 billion, accounted for more than 70% of Q2 repayments, while Permian Resources and Devon Energy reduced debt by another $550 million and $500 million respectively.
Housley CarrNARRATOR
Share repurchases increased 29% to $2.3 billion, or 10% of CFOA.
Housley CarrNARRATOR
Despite the quarterly increase, buybacks remain well below their 2023 level as a percentage of cash flow, falling from 18% to 10% in Q2.
Alexis MooreHOST
And as Brent prices rose, so did energy company shares.
Alexis MooreHOST
Occidental Petroleum rose nearly three percent.
Alexis MooreHOST
Shares of Marathon Petroleum were up almost four percent, and shares of Halliburton closed nearly two percent higher.
Alexis MooreHOST
Among other individual companies, shares of European banks fell today as global bond yields continue to push higher.
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