Domestic Inventory and Well Costs
Quarterly Pre-Tax Income ($ MM)
MIDSTREAM & MARKETING
GUIDANCE RECONCILIATION
$200
$150
$100
$50
$0
$(50)
$(100)
$(150)
3Q22 Guide
3Q22 Actuals
4Q22 Guide
30
Total
Midstream &
Marketing
EBIT
PHYSICAL MIDSTREAM BUSINESS
3Q22 income slightly below guidance primarily
driven by lower sulfur prices at Al Hosn. 4Q22
guidance lower than 3Q22 due to seasonal
impact of power business and lower sulfur
prices.
CRUDE EXPORTS FROM GULF COAST
•
3Q22 income above guidance due to timing of
cargo sales (offset in MTM). 4Q22 guidance
increase due to expected timing impacts of
cargo sales.
ALL OTHER MARKETING
•
3Q22 income above guidance due to significant
fluctuations in crude prices during the quarter
impacting the domestic pipeline sales (offset in
MTM). 4Q22 guidance lower due to projected
lower volatility in crude prices, offset by
improved natural gas transportation spreads.
Physical
Midstream
Business¹
Permian to
Gulf Coast
Shipping
(MID-MEH
Spread)²
Crude
Exports
from Gulf
Coast³
All Other
Marketing4
Oxy's Share
of WES
EBIT5
NOTE: ALL GUIDANCE SHOWN REPRESENTS MIDPOINT. MARK-TO-MARKET TREATED AS AN ITEM AFFECTING COMPARABILITY AND IS EXCLUDED FROM MIDSTREAM
GUIDANCE AND ADJUSTED ACTUALS 1PHYSICAL MIDSTREAM BUSINESS IS PRIMARILY COMPRISED OF THE DOLPHIN PIPELINE, AL HOSN, AND PERMIAN EOR GAS
PROCESSING PLANTS 2PERMIAN TO GULF COAST SHIPPING INCLUDES OXY'S CONTRACTED CAPACITY ON SEVERAL 3RD PARTY PIPELINES. CURRENT CAPACITY IS
~850 MBOD WITH PRIMARY DESTINATIONS OF CORPUS CHRISTI AND HOUSTON 3CRUDE EXPORTS FROM THE GULF COAST INCLUDE TERMINAL FEES OF $50 MM PER
QUARTER. OTHER EARNINGS DRIVERS INCLUDE THE DELTA BETWEEN OUR REALIZED PRICE OF EXPORTED CRUDE COMPARED TO MEH PRICING LESS THE COST OF
SHIPPING, AS WELL AS CRUDE PRICE VOLATILITY AND TIMING IMPACTS 4ALL OTHER MARKETING INCLUDES GAS AND NGL MARKETING, THE TIMING IMPACTS OF
DOMESTIC AND INTERNATIONAL CRUDE, AND GAS & NGL DEFICIENCY PAYMENTS WITH 3RD PARTIES (EXCLUDING WES) IN THE ROCKIES 5WES EBIT GUIDANCE IS
NOT A FORWARD PROJECTION BY OXY OR BASED ON WES'S CORPORATE GUIDANCE BUT IS AN AVERAGE OF THE LAST FOUR PUBLICLY AVAILABLE QUARTERS
OXYView entire presentation