Keep reading on this site that Oxy is a carbon capture , alternative fuel driven company... No need to find new grease. Hmmmm
https://www.fool.com/investing/2023/05/12/occidental-petroleum-buy-sell-or-hold/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
Oxy should have bought PDC energy instead of Chevron ($7.6 billion). Added a billion barrels of oil reserves from the DJ basin and additional 25000 acres in the Permian basin.... Still need grease to be an actual oil and gas company...If you can't find it yourself then buy it instead....Will add one billion dollars a year in free cash flow at $70/bbl.
Carbon capture and OxyChem..... Hmmmmmmmm
DAC will work as piloted. It is just standard chemical engineering. The physics of CO2 storage in the subsurface is well known and should work. Making money from the plan is the most uncertain.
Be mindful that DAC and CCS are untested. We may find out later that DAC is not capturing CO2 the way everyone is expecting and CO2 storage in saline aquifer may not work as LCV team is forecasting.
We are a healthcare company with oxyhealth as well as catching molecules from the atmosphere. If you have something going on in your head be careful because what you say will be kept on a database without any patient confidentiality and may come back to haunt you later.
For the the next generation (or two)...
they pay the bills for now
Oil & Gas and Chem pay the bills.