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Occidental Petro says cash flow neutrality actually at $40/bbl, not $50

Published 06/21/2017, 11:17 AM
© Reuters.  Occidental Petro says cash flow neutrality actually at $40/bbl, not $50
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  • Occidental Petroleum (OXY -0.3%) bumps higher before dropping back, as it seeks to clarify its cash flow neutrality level.
  • Speaking at the Wells Fargo (NYSE:WFC) Securities West Coast Energy Conference, OXY says it reaches cash flow neutrality at $40/bbl, seeking to make a distinction between its "pathway to breakeven at $50 WTI" after paying dividends and accounting for 5%-8% production growth.
  • OXY also touts the strength of its balance sheet, with $1.5B in cash and more than $3B in "solid liquidity."
  • Source: Briefing.com
  • Now read: Occidental Petroleum: A 5% Yield Looks Great But Creates An Overhang


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