Oil and gas producer Occidental Petroleum Corp. nudged its estimate for third-quarter production higher on Oct. 15, helped by fewer shutdowns in Colorado’s Denver-Julesburg Basin and strong performance in its Permian Resources unit.
The shale producer, which completed the purchase of rival Anadarko Petroleum Corp. in August, now expects production from continuing operations to be 1.1 million to 1.12 million barrels of oil equivalent (MMboe) per day.
The company’s initial forecast for combined pro-forma production from continuing operations was between 1.3 and 1.4 MMboe per day but, adjusting for the close of the merger, it later lowered that to between 1.06 and 1.10 MMboe per day.
Houston-based Occidental also said it expects third-quarter domestic onshore realized prices to be $54.00 per barrel for oil and $1.20 per thousand cubic feet for natural gas.
Occidental’s merger with Anadarko closed on Aug. 8. The company is scheduled to report third-quarter results on Nov. 4.
Constellation Breathing New Life Into Criterion Wind Project
2023-06-08 - Constellation Energy’s new efforts on its Criterion wind project will launch $350 million to deliver more wind-based electricity to the Northeast U.S.
Plucking Power From the Air: Ammonia Production Tested
2023-06-08 - ABB, Skovgaard Energy, Topsoe and Vestas aim to dynamically produce renewable ammonia using surplus wind and solar power, hydrogen and nitrogen.
Four Questions Looming Over the Energy Transition
2023-06-08 - There are no easy answers to the conundrum of funding the energy transition.
New Jersey Now Home to 17-acre Floating Solar Array
2023-06-07 - The array, owned and operated by a subsidiary of New Jersey Resources, floats on a reservoir and has an 8.9-megawatt power generation capacity.