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Occidental's Gulf of Mexico output hit by curtailments in Q2, shares down

ReutersJul 14, 2025 2:45 PM

** Shares of U.S. shale producer Occidental Petroleum OXY.N fall 2.5% to $45.15

** Company says its Gulf of Mexico production in Q2 was curtailed due to third-party constraints, extended maintenance, and schedule-related delays

** OXY expects sales volumes from its "Gulf of America" — referring to the Gulf of Mexico — to be about 125,000 barrels of oil equivalent per day (boepd)

** Company had forecast its Gulf of Mexico Q2 production to range between 126,000 and 134,000 boepd previously

** OXY adds that it continues to expect annual production within its previously announced forecast of 1.38 mln to 1.42 mln boepd

** OXY stock was also under pressure due to lower oil prices, with Brent crude futures LCOc1 down 0.2% at $70.23/barrel and U.S. West Texas Intermediate crude futures CLc1 down 0.3% at $68.22/barrel

** Including sessions moves, stock down 8.6% YTD

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