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January 30, 2014
07:23 EDTOXYOccidental Petroleum says added about 470M barrels of reserves
Occidental Petroleum said, "We had strong results in our domestic program in 2013. We grew our domestic liquids production by 15,000 barrels per day, or 5%, to 343,000 barrels per day on a year-over-year basis...Our domestic proved liquids reserve replacement was 228% and we replaced all of our domestic gas production with our drilling program. Based on our preliminary reserve estimates, we added about 470M barrels of reserves, resulting in a reserve replacement ratio of 169% for the total company. Of the total reserve additions, 156%, or about 433M barrels, resulted from our development program."
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November 24, 2015
06:28 EDTOXYImpact of low oil prices extends beyond oil industry, WSJ says
The fall in crude prices is having a ripple effect that extends beyond the oil industry, the Wall Street Journal reports. Sales of single family homes in Houston were down 10% year over year in October, the report says, and restaurants in Texas and the Southwest have seen a drop in sales and customer traffic. Brinker (EAT) credited weak oil prices for downbeat results in states that rely heavily on the energy industry, the report says. Occidental Petroleum (OXY) and American Eagle Energy (AMZG) have both exited Bakken last month, with Occidental selling its North Dakota assets and American Eagle seeking chapter 11 bankruptcy protection, the report says. Reference Link

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