Occidental Petroleum, a big oil company, sold some of its land and oil wells for $1.2 billion! This will help them pay off some of their debts. They also made a profit of 80 cents per share, which is good news.
- Occidental sold some of its oil and gas properties.
- They will use the money to pay off debt.
- They made more money than expected last quarter.
- Their future oil production is expected to be a bit lower than analysts predicted.
| Fact | Number |
|---|---|
| Money from selling assets | $1.2 billion |
| Profit per share | 80 cents |
| Expected production (MMboepd) | 1.37-1.41 |
| Current Share Price | $48.14 |
