Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Occidental Petroleum Corporation    OXY

OCCIDENTAL PETROLEUM CORPORATION (OXY)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Occidental Petroleum Corporation : Occidental Strikes Deal with Qatar Petroleum to Invest in Offshore Qatar

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/15/2013 | 03:00pm CEST
   By Saabira Chaudhuri 
 

Occidental Petroleum Corp. (>> Occidental Petroleum Corporation) has struck an agreement with Qatar Petroleum to invest what will likely amount to more than $3 billion to develop the Idd El Shargi North Dome Field in offshore Qatar.

The exploration and production company said the Phase 5 Field Development Plan has been jointly prepared by Oxy Qatar and Qatar Petroleum as part of the continued development of the Idd El Shargi North Dome under the development and production sharing agreement between the Government of the State of Qatar and Oxy Qatar, which was struck in July 1994.

The company said the work has already begun and will continue to sustain oil production levels at about 100,000 barrels/day through the next six years.

It said the Phase 5 field development plan includes specific activities identified from upgraded reservoir simulation models to implement and/or improve water-flooding practices in all oil producing reservoirs. The plan includes drilling more than 200 additional production, water injection and water source wells, plus the installation of associated facilities required to support the additional wells.

Occidental noted that added facilities will include minimum facilities platforms, wellhead jackets, fluid processing equipment and pipeline debottlenecking and water source projects.

Oxy Qatar also operates the Idd El Shargi South Dome Field (ISSD) and the Al Rayyan Field in Block 12, and is a partner in Dolphin Energy.

Occidental, based in Los Angeles, is one of the largest U.S. oil and gas companies based on market capitalization. Its heavy investment in the U.S.--in California, Texas and the interior of the country--has boosted production in recent periods, and has led to strong results in its chemicals business, though the company has also had to combat falling oil and natural-gas prices.

In April, Occidental Petroleum reported that its first-quarter profit shrank 13% as the energy producer's revenue was weakened by softer prices for crude oil and natural-gas liquids.

Shares closed Friday at $90.22 and were inactive premarket. The stock has risen 18% so far this year.

Write to Saabira Chaudhuri at [email protected]

Stocks mentioned in the article : Occidental Petroleum Corporation
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on OCCIDENTAL PETROLEUM CORPO
04/15Qatar to showcase economy and culture in South Carolina
AQ
04/11OCCIDENTAL PETROLEUM : Facebook and Occidental Petroleum climb while CBS slumps
AQ
04/11MARKETS RIGHT NOW : Stocks close mostly lower on Wall Street
AQ
03/29OCCIDENTAL PETROLEUM : to Announce First Quarter Results Tuesday, May 8, 2018; H..
AQ
03/25Shale firms pump up dividends as industry focus on returns grows
RE
03/08OCCIDENTAL PETROLEUM CORPORATION : Ex-dividend day for
FA
03/07Statoil (STO) Hires West Phoenix Rig to Drill 4 Wells
AQ
03/06Cheniere Energy (LNG) Begins Long-Term Agreement With GAIL
AQ
03/06THE ZACKS ANALYST BLOG HIGHLIGHTS : Pfizer, Verizon, Altria, Occidental Petroleu..
AQ
03/03Frackers, OPEC Size Each Other Up at CERAWeek Energy Confab in Texas
DJ
More news
News from SeekingAlpha
04/202 Dividend Stocks For The Oil Bull Market 
04/17Shale oil refining faces problems but Morgan Stanley says investors can profi.. 
04/17CONSTRUCT YOUR OIL PORTFOLIO : The Trend Following Version 
04/16Occidental Petro upped at Piper as competitive advantage underappreciated 
04/12Goldman selects eight energy stocks to thrive in the age of shale 
Financials ($)
Sales 2018 15 188 M
EBIT 2018 3 678 M
Net income 2018 2 086 M
Debt 2018 8 047 M
Yield 2018 4,04%
P/E ratio 2018 27,64
P/E ratio 2019 28,06
EV / Sales 2018 4,38x
EV / Sales 2019 4,20x
Capitalization 58 511 M
Chart OCCIDENTAL PETROLEUM CORPO
Duration : Period :
Occidental Petroleum Corpo Technical Analysis Chart | OXY | US6745991058 | 4-Traders
Technical analysis trends OCCIDENTAL PETROLEUM CORPO
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 78,5 $
Spread / Average Target 2,7%
EPS Revisions
Managers
NameTitle
Vicki A. Hollub President, Chief Executive Officer & Director
Eugene L. Batchelder Independent Chairman
Cedric W. Burgher Chief Financial Officer & Senior Vice President
John E. Feick Independent Director
E. Spencer Abraham Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
OCCIDENTAL PETROLEUM CORPORATION3.16%58 511
CONOCOPHILLIPS19.86%77 049
CNOOC LTD15.15%73 295
EOG RESOURCES5.68%65 947
CANADIAN NATURAL RESOURCES LIMITED1.54%43 178
OIL AND NATURAL GAS CORPORATION LTD-6.54%35 350