Occidental Petroleum Corporation, Inc. (NYSE:OXY) Q2 2024 Earnings Conference Call August 8, 2024 1:00 PM ET

Company Participants

Jordan Tanner - VP, Investor Relations
Vicki Hollub - President & CEO
Sunil Mathew - SVP & CFO
Richard Jackson - President, Operations, U.S. Onshore Resources and Carbon Management
Kenneth Dillon - SVP & President, International Oil and Gas Operations

Conference Call Participants

Neil Mehta - Goldman Sachs
Betty Jiang - Barclays
Paul Cheng - Scotiabank
Doug Leggate - Wolfe Research
John Royall - JPMorgan
Roger Read - Wells Fargo
Neal Dingmann - Truist Securities
David Deckelbaum - TD Cowen

Operator

Good afternoon, and welcome to Occidental's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Jordan Tanner, Vice President of Investor Relations. Please go ahead.

Jordan Tanner

Thank you, Drew. Good afternoon, everyone, and thank you for participating in Occidental's Second Quarter 2024 Earnings Conference Call. On the call with us today are Vicki Hollub, President and Chief Executive Officer; Sunil Mathew, Senior Vice President and Chief Financial Officer; Richard Jackson, President, Operations, U.S. Onshore Resources and Carbon Management; and Ken Dillon, Senior Vice President and President, International Oil and Gas Operations.

This afternoon, we will refer to slides available on the Investors section of our website. The presentation includes a cautionary statement on Slide 2 regarding forward-looking statements that will be made on the call this afternoon. We'll also reference a few non-GAAP financial measures today. Reconciliations to the nearest corresponding GAAP measure can be found in the schedules to our earnings release and on our website.

I will now turn the call over to Vicki.

Vicki Hollub

Thank you, Jordan, and good afternoon, everyone. I'll begin today by highlighting another quarter of exceptional execution across our business segments. Our teams delivered strong operational performance during the second quarter. Our technical and operational excellence paired with a high-quality asset portfolio continued to deliver value across our businesses.

Last week, we further strengthened our portfolio through the addition of CrownRock's assets in the Midland Basin. We were also pleased to announce that our strategic divestiture program is progressing, and we have clear line of sight to meeting the debt reduction targets we set out when we announced the deal last December. This afternoon, I'll cover our second quarter results and operational performance as well as our CrownRock integration plans. Sunil will then review our financial results and guidance, including an increase in full year guidance for our midstream earnings.