OCCIDENTAL PETROLEUM CORP /DE/ (OXY): Third Quarter 2026 Earnings Considerations
OCCIDENTAL PETROLEUM CORP /DE/ (OXY) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Third Quarter 2026 Earnings Considerations Occidental Petroleum Corporation ("Occidental") is providing the following summary of earnings considerations that management believes will impact results for the third quarter of 2026. The summary is intended only to provid
How this was made
The 30-second read
Why it matters
The disclosed production and price data give investors the first concrete view of Q3 performance, shaping expectations ahead of the formal earnings release.
Market read
First‑hand guidance from a major U.S. energy company; modest market impact expected until the full earnings release.
What to watch
Potential upside from higher realized oil prices if global benchmarks rise above the disclosed $85.79‑$91.62 range.
Occidental said third-quarter production is within guidance despite temporary Gulf of America downtime, while crude oil collar settlements negatively impacted operating cash flow before working capital by $94 million.
Production was within Occidental's guidance range, but temporary Gulf of America curtailments from a third-party gas pipeline constraint and maintenance activities reduced operations, and crude oil collar settlements were a $94 million headwind to operating cash flow before working capital.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Gulf of America net sales volumes, three months ended September 30, 2026other | 110 Mboed | – | – |
| Domestic lease operating cost, three months ended September 30, 2026other | $8.54/boe | – | – |
| Total company production oil, three months ended September 30, 2026other | 48.8% | – | – |
| Average diluted shares outstanding, third quarter of 2026other | 1,012.8 million shares | – | – |
| Crude oil collar settlements impact on operating cash flow before working capital, third quarter of 2026other | negatively impacted operating cash flow before working capital by $94 million | – | – |
| United States average realized oil price, three months ended September 30, 2026other | $85.93/Bbl | – | – |
| International average realized oil price, three months ended September 30, 2026other | $85.80/Bbl | – | – |
| Total worldwide average realized oil price, three months ended September 30, 2026other | $85.91/Bbl | – | – |
| United States average realized NGL price, three months ended September 30, 2026other | $24.10/Bbl | – | – |
| International average realized NGL price, three months ended September 30, 2026other | $29.11/Bbl | – | – |
| Total worldwide average realized NGL price, three months ended September 30, 2026other | $24.63/Bbl | – | – |
| United States average realized natural gas price, three months ended September 30, 2026other | $1.61/Mcf | – | – |
| International average realized natural gas price, three months ended September 30, 2026other | $2.00/Mcf | – | – |
| Total worldwide average realized natural gas price, three months ended September 30, 2026other | $1.69/Mcf | – | – |
| WTI oil average index price, three months ended September 30, 2026other | $85.79/Bbl | – | – |
| Brent oil average index price, three months ended September 30, 2026other | $91.62/Bbl | – | – |
| NYMEX gas average index price, three months ended September 30, 2026other | $2.97/Mcf | – | – |
| Worldwide oil as a percentage of average WTI, three months ended September 30, 2026other | 100% | – | – |
| Worldwide oil as a percentage of average Brent, three months ended September 30, 2026other | 94% | – | – |
| Worldwide NGL as a percentage of average WTI, three months ended September 30, 2026other | 29% | – | – |
| Domestic natural gas as a percentage of average NYMEX, three months ended September 30, 2026other | 54% | – | – |
What drove it
- Total company production for the third quarter of 2026 is within Occidental's guidance range.
- In September, Occidental temporarily curtailed production at certain Gulf of America facilities due to a third-party gas pipeline constraint and maintenance activities.
- Production has been partially restored.
- Total company production oil was 48.8%.
Concerns
- The remaining impacted Gulf of America production is expected to return as the third-party gas pipeline constraint is resolved.
- Crude oil collar settlements negatively impacted operating cash flow before working capital by $94 million.
- Domestic natural gas realized price was $1.61/Mcf, while the NYMEX gas average index price was $2.97/Mcf.
What to watch
- Resolution of the third-party gas pipeline constraint and the return of remaining impacted Gulf of America production.
- Finalization of Occidental's financial reporting process for the third quarter of 2026.
- The final effect of the temporary Gulf of America downtime on third-quarter results.
- The ultimate operating cash flow effect of crude oil collar settlements.
Balance sheet and cash flow
- Crude oil collar settlements for the third quarter of 2026 negatively impacted operating cash flow before working capital by $94 million.
Analysis
This filing is an earnings-considerations release rather than a completed earnings report. Occidental stated that total company production for the third quarter of 2026 is within its guidance range, but did not disclose total production, revenue, earnings, or a full financial statement. The company said the information is preliminary and is not an estimate of third-quarter earnings.
Operations were affected by temporary curtailments at certain Gulf of America facilities during September. Occidental attributed the downtime to a third-party gas pipeline constraint and maintenance activities. Gulf of America net sales volumes were reported at 110 Mboed for the three months ended September 30, 2026, and production has been partially restored. The remaining affected production is expected to return when the third-party pipeline constraint is resolved.
Commodity realizations show worldwide oil at $85.91/Bbl, compared with $85.79/Bbl WTI and $91.62/Bbl Brent. Worldwide NGL realizations were $24.63/Bbl, while worldwide natural gas realizations were $1.69/Mcf. Domestic natural gas realized $1.61/Mcf against a $2.97/Mcf NYMEX gas index price. The company also reported domestic lease operating cost of $8.54/boe and an oil mix of 48.8% of total company production.
Cash flow faces a disclosed hedging-related headwind: crude oil collar settlements negatively impacted operating cash flow before working capital by $94 million. Average diluted shares outstanding were 1,012.8 million shares. No capital-return activity, balance-sheet balances, debt, dividend, repurchase data, or formal forward financial guidance was provided in the filing.
The primary near-term operating item is restoration of the remaining Gulf of America production affected by the third-party pipeline constraint. Investors also need the subsequent finalized earnings release to assess the downtime's effects on production, revenue, margins, earnings, operating cash flow, and capital allocation.
Not in the filing
stated, not guessed- Total company production volume for the third quarter of 2026
- Numeric total company production guidance range
- Total revenue
- Segment revenue
- GAAP gross profit or gross margin
- GAAP operating income or loss
- GAAP net income or loss
- GAAP diluted earnings or loss per share
- Non-GAAP earnings measures
- Prior-year and prior-quarter values for reported operating, price, cost, and share metrics
- Year-over-year and sequential changes for reported metrics
- Operating cash flow amount
- Free cash flow
- Cash and cash equivalents
- Debt
- Capital expenditures
- Share repurchases
- Dividends
- Formal revenue, margin, operating expense, tax-rate, or other numeric forward guidance
- Named executive commentary or executive quotes
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Occidental Petroleum filed a Form 8‑K on Oct 13, 2026, presenting its own earnings considerations for the upcoming third‑quarter reporting period.
Ticker impact
Occidental Petroleum (OXY) filed an 8‑K with Q3 2026 earnings considerations, detailing production volumes, realized oil prices and cash‑flow impacts.
likely modest pressure as investors assess the impact of temporary Gulf of America downtime and lower cash‑flow from oil collar settlements.
The filing is the first public disclosure of these Q3 metrics; no surprise upside or downside is indicated, so the market may react cautiously.
Market effects
Oil and gas sector may see slight valuation adjustments based on Occidental's production constraints and price realizations.
U.S. energy markets could experience modest price movement if the downtime influences broader supply expectations.
Limited; the guidance pertains to a single major producer without immediate global macro impact.
Counterpoint
If the temporary Gulf of America downtime resolves faster than expected, the guidance could be overly pessimistic, presenting a buying opportunity.
Key entities
- CompanyOccidental Petroleum Corp.
U.S. integrated oil and gas producer providing Q3 2026 earnings considerations.
