From Yahoo Finance: 2025-05-07 16:17:00

Occidental Petroleum exceeded first-quarter profit expectations, driven by strong production and favorable commodity prices. Brent crude prices averaged $74.98 a barrel, while U.S. natural gas prices reached a two-year high. Natural gas production prices rose 50%, NGL prices increased by 17%, and oil prices fell slightly. Production increased by 19% to 1.39 MMboepd, and the company made $2.3 billion in debt repayments. CEO Vicki Hollub remains optimistic about debt reduction goals and asset quality. Adjusted profit was 87 cents per share, exceeding analysts’ estimates.

Read more: Occidental reports quarterly profit beat on strong output, natural gas prices