We use cookies on the public areas of our website. They let you easily navigate your way around the site and allow us to improve its performance, or even recommend content we believe will be of most interest to you. By continuing to browse the site you are agreeing to our use of cookies. If you would like to learn more about how we use cookies and how you can manage them, see our Privacy & Cookie Policy.
Conventional exploration is no longer a key growth theme for Occidental, adding just 0.3 billion boe of resource over the last decade. Oxy radically reshaped its business and strategy in 2014/15, becoming more streamlined. Growth is based on two key strengths: Permian Basin resource plays and EOR. The portfolio is centred on two areas – onshore US and the Middle East, with the development of large, long-lived liquids-rich resource plays being the primary focus. Portfolio build in the US has relied mostly on acquisition. Exploration spend has been much lower than other large independents, and in 2014/2015, dwindled to almost nothing. The company is absent from deepwater and has completed few international wildcats over the past decade, focused instead on onshore around legacy positions in Latin America, North Africa and the Middle East. Its preference is for low exploration risk, in contrast to a willingness to accept much higher engineering risk.
What's included?
This report includes 2 file(s)
Occidental Petroleum oil and gas exploration summary PDF - 950.22 KB 15 Pages, 6 Tables, 18 Figures
Occidental Petroleum.xls XLS - 602.50 KB
Description
Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.
Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.
Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
Having Wood Mac analysis is table-stakes. Others are nice to have.
Analyst Metal Mining Producer
Wood Mac has the highest quality data and is demanded by our staff.
Portfolio Manager Integrated Oil Company
Others can provide data but we value the quality of the Wood Mac analysis above other sources.
As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
Contact Us
Company report | Oct 2016
Occidental Petroleum oil and gas exploration summary
Have questions? Just let us know how to contact you and we will respond to you as soon as possible.
