Occidental Petroleum Surpasses Q2 Earnings Expectations with 51% Profit Growth

Boosted by increased production and strategic acquisitions, Occidental Petroleum's Q2 results exceed forecasts.

Occidental Petroleum's Q2 earnings per share reached $1.03, beating the expected 77 cents.
Quarterly revenue was $6.82 billion, slightly below the anticipated $6.93 billion.
Production rose to 1.258 million barrels of oil equivalent per day, exceeding guidance.
The $12 billion acquisition of CrownRock significantly expanded Occidental's asset base.
The company plans to retire $2.3 billion in debt by the end of August.