Occidental Petroleum Corporation (OXY) is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy acquired significant experience with shale production following the 1998 acquisition of Elk Hills Field in Kern County, California. This prolific oilfield contains a number of shale zones — porous rock that contains hydrocarbons but has little permeability. In North Dakota Oxy’s assets are oil producing and prospective unconventional properties in the Williston Basin, including acreage in the Bakken and Three Forks formations. California shale reservoirs contain abundant siltstones like the Bakken shale in North Dakota and Montana and the Eagle Ford shale in South Texas.
OXY engages in oil and natural gas exploration and production in three core regions: the United States, Middle East/North Africa and Latin America. OXY is a worldwide leader in applying advanced technology to boost production from mature oil and natural gas fields and access hard-to-reach reserves. OXY’s Midstream, Marketing and Other segment gathers, treats, processes, transports, stores, purchases and markets crude oil (including NGLs and condensate), natural gas, carbon dioxide (CO2) and power. It also trades around its assets, including pipeline and storage capacity, and trades commodities and securities.