Winter storm knocked 10K boe/day from Q4 Occidental Petroleum production
Occidental Petroleum $Occidental(OXY)$ disclosed Wednesday that last month's Winter Storm Elliott caused third party and company operated downtime, primarily related to compression, that hurt domestic onshore operations.
While normal operations have resumed, the company said it expects Q4 Permian and Rockies production were reduced by a combined 10K boe/day.
Occidental (OXY) also said it repaid more than $10.5B debt in 2022, including more than $1.1B in Q4, reducing the face value of its debt to less than $18B, and the company has retired all outstanding interest rate swaps.
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