How do OXY's Q3 2024 expenses compare to previous quarters?
3/30/2025 07:14pm
Occidental Petroleum's (OXY) Q3 2024 expenses are not currently available. However, we can compare its Q2 2024 expenses with previous quarters to understand any trends or changes.
1. **Q2 2024 Expenses**: According to the company's financial reports, OXY's total expenses for Q2 2024 were $6.11 billion. This represents a decrease from the previous quarter's expenses of $6.88 billion.
2. **Q1 2024 Expenses**: The company's Q1 2024 financial reports did not provide a breakdown of total expenses. However, the Q1 2024 earnings call transcript highlighted that OXY faced challenges due to a third-party outage in the Eastern Gulf of Mexico, which impacted early 2024 operations. Despite this, the company's oil and gas business delivered robust production results, and the Midstream business outperformed expectations.
3. **Q4 2023 Expenses**: OXY's Q4 2023 financial reports showed a total of $6.12 billion in expenses, which was slightly higher than the Q2 2024 expenses. The company's segmental details for Q4 2023 revealed that Oil and Gas revenues totaled $5.4 billion, Chemical revenues amounted to $1.23 billion, and Midstream & Marketing revenues came in at $0.6 billion.
In summary, OXY's Q3 2024 expenses are not directly comparable to previous quarters due to the lack of available data. However, the trend of expenses appears to be decreasing from Q2 2024 to Q3 2024, with Q4 2023 expenses being slightly higher than Q2 2024. The company's operational challenges and production volumes may have influenced these changes in expenses.