Zacks Investment Research | May 04, 2017 03:44AM ET
Occidental Petroleum Corporation (NYSE:OXY) reported first-quarter 2017 earnings of 15 cents per share, beating the Zacks Consensus Estimate of 14 cents by 7.1%. In the year-ago quarter, the company had posted a loss of 56 cents.
Total Revenue
Occidental Petroleum's total revenue came in at $2,978 million, missing the Zacks Consensus Estimate of $3,011.4 million. Revenues increased 30.6% year over year from $2,281 million a year ago.
Production
Occidental Petroleum’s average daily net oil, liquids and gas production volume decreased 11.1% year over year to 584,000 barrels of oil equivalents per day (Boe/d). This decrease in the production volume was due to Colombia pipeline disruptions and planned maintenance at the Al Hosn Gas and Dolphin operations.
Realized Prices
Realized prices for worldwide crude oil increased 66.7% year over year to $49.04 per barrel.
Worldwide realized NGL prices increased 98.8% to $21.59 per barrel.
Natural gas prices were up 65.6% to $2.07 per thousand cubic feet.
Occidental Petroleum Corporation Price, Consensus and EPS Surprise
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