Occidental Petroleum Corporation (NYSE:OXY) Q3 2024 Results Conference Call November 13, 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
Ken Dillon - SVP & President, International Oil and Gas Operations

Conference Call Participants

Doug Leggate - Wolfe Research
Roger Read - Wells Fargo
Neil Mehta - Goldman Sachs
Paul Cheng - Scotiabank
Scott Gruber - Citi
Arun Jayaram - JPMorgan Securities

Operator

Good afternoon, and welcome to Occidental's Third 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 Third 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'll now turn the call over to Vicki.

Vicki Hollub

Thank you, Jordan, and good afternoon, everyone.

Our teams delivered another quarter of exceptional performance across all of our business segments. Despite weather disruptions and commodity price volatility, resilient operational execution from our teams helped to deliver the highest operating cash flow so far this year. Our strong financial results are a testament to the dedication and capabilities of our teams as well as the premium quality of our assets.

I'll begin today by reviewing our third quarter performance and providing highlights from our Oil & Gas business, including the ongoing integration of CrownRock. I'll also give an update on our direct air capture projects and then share the progress on our near-term debt reduction program. Sunil will cover our financial results and fourth quarter outlook, including the increases and full year guidance for each of our segments, and we'll provide insight on how we're looking at our 2025 capital plans.