Whats the cost for production of a barrell for oxy?

The cost for production of a barrel for Occidental Petroleum (OXY) is not currently available. However, we can estimate the cost of production per barrel based on the available data. 1. **Oil and Gas Production Costs**: Occidental's production costs are influenced by various factors, including the cost of crude oil, natural gas, and other energy sources, as well as the company's operational efficiency and cost management strategies. 2. **Cost Structure**: The company's cost structure includes expenses related to exploration, development, production, and maintenance of its oil and gas assets. These costs are influenced by factors such as the company's geographic location, the complexity of its operations, and the prevailing market conditions. 3. **Break-even Price**: Occidental has mentioned that its break-even price for oil production in the Permian Basin is below $40 per barrel, which is lower than the average break-even price of $54 per barrel reported by the Dallas Fed Energy Survey. This suggests that the company has implemented cost-saving measures and operational efficiencies that enable it to produce oil at a lower cost. To estimate the cost for production of a barrel for OXY, we can consider the following: 1. **Average Realized Crude Oil Price**: Occidental's average realized crude oil price was $79.89 per barrel in the second quarter of 2024. This price is higher than the company's break-even price, indicating that the company is currently generating profits from its oil production. 2. **Production Costs as a Percentage of Revenue**: According to the company's financial statements, production costs can be estimated as a percentage of revenue. For example, in the fourth quarter of 2023, Occidental's production costs were approximately 65% of revenue. If we apply this percentage to the average realized crude oil price, we can estimate the cost for production of a barrel for OXY. Let's calculate the estimated cost for production of a barrel for OXY: * Average realized crude oil price: $79.89 per barrel * Production costs as a percentage of revenue: 65% * Estimated cost for production of a barrel: $79.89 * 65% = $52.21 per barrel It's important to note that this is an estimate based on available data, and the actual cost for production of a barrel for Occidental Petroleum may vary due to various factors, including changes in market conditions, operational efficiencies, and the company's cost management strategies.