Occidental Executives Say Co To Cut Costs From CrownRock Assets, Not Add Significant Production Growth
Portfolio Pulse from Benzinga Newsdesk
Occidental Petroleum executives have announced plans to reduce costs from CrownRock assets without pursuing significant production growth, according to Reuters.
December 11, 2023 | 4:42 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Occidental Petroleum (OXY) aims to cut costs from CrownRock assets, indicating a strategy focused on efficiency rather than increasing production.
The announcement by Occidental executives suggests a strategic move towards cost efficiency, which could lead to improved margins and potentially a positive reaction from investors who value sustainability and prudent management. However, the lack of significant production growth could temper expectations for revenue increases.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90