Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Occidental’s Q1 2025 revenue rose by 13.9% YoY but missed estimates by 0.3%. Its net income rose by 6.7% YoY, and its EPS beat estimates by 12.1%.</li>
<li>Occidental’s earnings beat was fueled by robust oil and gas segment growth, underpinned by stronger price realisations that offset volume softness and reinforced its upstream momentum.</li>
<li>Occidental closed USD 1.3 billion in asset sales in Q1 and repaid USD 2.3 billion in debt YTD, underscoring its continued focus on debt reduction.</li>
</ul>


Occidental’s Q1 2025 revenue rose by 13.9% YoY but missed estimates by 0.3%. Its net income rose by 6.7% YoY, and its EPS beat estimates by 12.1%.
Occidental’s earnings beat was fueled by robust oil and gas segment growth, underpinned by stronger price realisations that offset volume softness and reinforced its upstream momentum.
Occidental closed USD 1.3 billion in asset sales in Q1 and repaid USD 2.3 billion in debt YTD, underscoring its continued focus on debt reduction.


[Earnings Review] Occidental Beat EPS Expectations on Strong Oil & Gas Performance

<ul>
<li>Occidental’s Q1 revenue and EPS are projected to rise 14.4% and 23.8% YoY, driven by strong Permian production and improved oil and gas price realisations.</li>
<li>Occidental’s average realised global oil price rose 1.9% QoQ, while NGL and natural gas prices surged 19% and 63.1%, respectively.</li>
<li>Occidental’s average index prices for WTI and Brent rose 1.6% and 1.2% QoQ, respectively, while natural gas prices saw a sharp 36.1% increase.</li>
</ul>


Occidental’s Q1 revenue and EPS are projected to rise 14.4% and 23.8% YoY, driven by strong Permian production and improved oil and gas price realisations.
Occidental’s average realised global oil price rose 1.9% QoQ, while NGL and natural gas prices surged 19% and 63.1%, respectively.
Occidental’s average index prices for WTI and Brent rose 1.6% and 1.2% QoQ, respectively, while natural gas prices saw a sharp 36.1% increase.


[Earnings Preview] Better Oil and Gas Prices to Lift Occidental’s Revenue Amid Persistent Headwinds

<ul>
<li>Occidental’s Q4 revenue fell 5.7% YoY, missing estimates by 3.1%. It also posted a net loss of USD 297 million. Lower sales and tight margins weighed on performance.</li>
<li>However, adjusted EPS climbed 8.1% to USD 0.80 per share, beating estimates by 18.1%, while Occidental met its USD 4.5 billion short-term debt reduction goal for 2024.</li>
<li>Occidental signed divestment deals worth USD 1.2 billion in Q1 2025. Proceeds will cover debt maturities. It raised its quarterly dividend by 9% to USD 0.24 per share.</li>
</ul>


Occidental’s Q4 revenue fell 5.7% YoY, missing estimates by 3.1%. It also posted a net loss of USD 297 million. Lower sales and tight margins weighed on performance.
However, adjusted EPS climbed 8.1% to USD 0.80 per share, beating estimates by 18.1%, while Occidental met its USD 4.5 billion short-term debt reduction goal for 2024.
Occidental signed divestment deals worth USD 1.2 billion in Q1 2025. Proceeds will cover debt maturities. It raised its quarterly dividend by 9% to USD 0.24 per share.


[Earnings Review] Occidental Beats EPS Expectations on Higher Output and Cost Savings

<ul>
<li>Occidental is to report its Q4 earnings on 18/Feb and analysts project its revenue and EPS to fall by 2.6% YoY and 9.5%, respectively.</li>
<li>As of 13/Feb, Occidental’s implied volatility (IV) stands at 32.89%, with an IV rank of 76.4% and an IV percentile of 91%.</li>
<li>Occidental’s OI by strike for the 21/Feb expiry shows calls concentrated at strikes 50, 52.5, and 55, while puts dominate at 45 and 47.5.</li>
</ul>


Occidental is to report its Q4 earnings on 18/Feb and analysts project its revenue and EPS to fall by 2.6% YoY and 9.5%, respectively.
As of 13/Feb, Occidental’s implied volatility (IV) stands at 32.89%, with an IV rank of 76.4% and an IV percentile of 91%.
Occidental’s OI by strike for the 21/Feb expiry shows calls concentrated at strikes 50, 52.5, and 55, while puts dominate at 45 and 47.5.


[Pre Earnings Options Flash] Occidental’s OI PCR Implies Neutral Sentiment Amid High Volatility

<ul>
<li>Occidental’s Q4 revenue and EPS are expected to drop 2.6% and 9.5% YoY, with full-year 2024 declines of 3.8% and 10%, respectively.</li>
<li>Occidental's average realised worldwide oil price dropped by 7.4% QoQ and 11.6% YoY to USD 69.73/b. Conversely, its average realised global NGL price rose by 6.5% QoQ and 4.2% YoY.</li>
<li>The STRATOS plant, one of the largest DAC projects globally, will begin operations by mid-2025. It is expected to capture up to 500,000 tonnes of carbon dioxide annually.</li>
</ul>


Occidental’s Q4 revenue and EPS are expected to drop 2.6% and 9.5% YoY, with full-year 2024 declines of 3.8% and 10%, respectively.
Occidental's average realised worldwide oil price dropped by 7.4% QoQ and 11.6% YoY to USD 69.73/b. Conversely, its average realised global NGL price rose by 6.5% QoQ and 4.2% YoY.
The STRATOS plant, one of the largest DAC projects globally, will begin operations by mid-2025. It is expected to capture up to 500,000 tonnes of carbon dioxide annually.


[Earnings Preview] Lower Oil Prices to Pressure Occidental in Q4 While NGL Prices Offer Support

United States

Occidental Petroleum Corporation explores for, develops, produces, and markets crude oil and natural gas.  The Company also manufactures and markets a variety of basic chemicals, vinyls and performance chemicals. Occidental also gathers, treats, processes, transports, stores, trades and markets crude oil, natural gas, NGLs, condensate and carbon dioxide (CO2) and generates and markets power.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Occidental Petroleum (OXY US)

[Earnings Review] Occidental Beat EPS Expectations on Strong Oil & Gas Performance

Occidental's Q1 earnings beat expectations fuelled by strong oil and gas segment growth, asset sales, and operational efficiencies.

Mint Finance

[Earnings Preview] Better Oil and Gas Prices to Lift Occidental’s Revenue Amid Persistent Headwinds

Occidental's Q1 revenue and EPS expected to rise significantly YoY due to strong Permian production and improved oil and gas prices.

Mint Finance

[Earnings Review] Occidental Beats EPS Expectations on Higher Output and Cost Savings

Occidental's Q4 revenue fell, but adjusted EPS rose and debt reduction goals were met through divestment deals and improved cash flow.

Mint Finance

[Pre Earnings Options Flash] Occidental’s OI PCR Implies Neutral Sentiment Amid High Volatility

Occidental's Q4 earnings expected to decline, with implied volatility high and options activity concentrated at specific strikes for 21/Feb expiry.

Mint Finance

[Earnings Preview] Lower Oil Prices to Pressure Occidental in Q4 While NGL Prices Offer Support

Occidental's Q4 revenue and EPS expected to decline due to weak oil prices. However, higher gas and NGL prices to cushion impact. STRATOS plant...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Earnings Review] Occidental Beat EPS Expectations on Strong Oil & Gas Performance

​Occidental's Q1 earnings beat expectations fuelled by strong oil and gas segment growth, asset sales, and operational efficiencies.

Mint Finance

[Earnings Preview] Better Oil and Gas Prices to Lift Occidental’s Revenue Amid Persistent Headwinds

​Occidental's Q1 revenue and EPS expected to rise significantly YoY due to strong Permian production and improved oil and gas prices.

Mint Finance

[Earnings Review] Occidental Beats EPS Expectations on Higher Output and Cost Savings

​Occidental's Q4 revenue fell, but adjusted EPS rose and debt reduction goals were met through divestment deals and improved cash flow.

Mint Finance

[Pre Earnings Options Flash] Occidental’s OI PCR Implies Neutral Sentiment Amid High Volatility

​Occidental's Q4 earnings expected to decline, with implied volatility high and options activity concentrated at specific strikes for 21/Feb expiry.

Mint Finance

[Earnings Preview] Lower Oil Prices to Pressure Occidental in Q4 While NGL Prices Offer Support

​Occidental's Q4 revenue and EPS expected to decline due to weak oil prices. However, higher gas and NGL prices to cushion impact. STRATOS plant...

Mint Finance

Occidental's Q1 earnings beat expectations fuelled by strong oil and gas segment growth, asset sales, and operational efficiencies.

Occidental's Q1 revenue and EPS expected to rise significantly YoY due to strong Permian production and improved oil and gas prices.

Occidental's Q4 revenue fell, but adjusted EPS rose and debt reduction goals were met through divestment deals and improved cash flow.

Occidental's Q4 earnings expected to decline, with implied volatility high and options activity concentrated at specific strikes for 21/Feb expiry.

Occidental's Q4 revenue and EPS expected to decline due to weak oil prices. However, higher gas and NGL prices to cushion impact. STRATOS plant...