Slides for tomorrow's call have been posted. I know the haters and malcontents are going to contort themselves to find something bad, but overall this has been an amazing quarter. Exceeded financial guidance across the board. Record efficiencies and cash flow. GOM, Rockies and Permian exceeded guidance production. Oxychem knocking it out of the ballpark. Deleveraging and divestitures on track. Good job, folks!
https://www.oxy.com/investors/Documents/Earnings/OXY2Q21ConferenceCallSlides.pdf
You're still Oxy, son. You can put lipstick on whatever you want everyone else still knows what you are.
Poor Johnny Cheerleaders. Your 2Q report predictions plugged up the bathrooms in Greenway. Stock near April lows. Nice try, but you cant pump up a tire with a-ho-e in it like VH.
DD&A is high because Oxy over paid for Anadarko. Your DD&A is basically the cost to purchase, find and develop the production you have. Suppose you paid $100 million to buy 10 MMBOE and spent another $100 million to develop it. That’s $20/Bbl of cost that will be amortized over the life of the production and would give you a DD&A rate of $20/Boe.
Oxy paid a whole lot so Dd&A rate will always be high unless they take a large impairment or are able to add a lot of organic reserves.
Stock price reflects reality! $26 with $68 WTI; up until the bad acquisition, the stock price and WTI loosely tracked each other (stock was in the $80s only three years ago). That relationship has been permanently destroyed along with the company’s risk profile. Good job Vicki - this is your legacy!
SG&A is good but why is DD&A so high? That seems to be hurting the bottom line. Maybe further divestitures will help this.
Why would you ever want it to do bad unless you were layed off and have a grudge?
Looks good, and glad to see all the hard work is paying off. Anyone that works for this company and wants it to do bad is just an id--t. Compared to 2nd qtr 2020, and it is really looking good.
I haven’t read the report yet. How is SG&A doing on per barrel basis? Is there still room to reduce that through targeted layoffs and VSPs? There have to be many areas where efficiencies can be improved.
Dang. Looks like that WFH has been good to the bottom line
Agree. This company was impacted negatively by the merger. Was The Company really so insecure about being bought that they had to resort to the acquisition which ruined it for the shareholders. How selfish and against governance. The employees remaining will be fine and will make lots of money in bonuses.
Where is the big dividend and the improved bond rating?
Ha. Look at the stock price Johnny Cheerleader, needs to at least triple before I get excited. Company has been severely damaged by reckless VH. Enjoying that bonus VH? POS.
I agree -- it looks really good for the most part. $15 MM / 1,000 boed !!