Occidental Petroleum CEO Says Shareholders To Benefit From 25% Or Higher Free Cashflow Accretion From CrownRock; Expects Permian Production Of 750,000 Barrels Of Oil And Gas Per Day In 2024
Portfolio Pulse from Benzinga Newsdesk
Occidental Petroleum's CEO announced that shareholders are expected to benefit from a 25% or higher free cash flow accretion due to CrownRock. The company also anticipates its Permian production to reach 750,000 barrels of oil and gas per day in 2024.
December 11, 2023 | 4:11 pm
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POSITIVE IMPACT
Occidental Petroleum is poised for significant free cash flow growth and increased Permian production, signaling potential positive financial performance.
The CEO's statement about a 25% or higher free cash flow accretion from CrownRock indicates strong financial health and operational efficiency, which is likely to be viewed positively by investors. The expected increase in Permian production to 750,000 barrels per day by 2024 suggests growth in output and potential revenue increase, further supporting a positive outlook for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100