OXYCHEM Market Analysis and Guidance
Capital $ B
2022 Actuals
2023 Plan
20
20
Oil & Gas
$3.8
$4.3-4.7
Chemicals
$0.3
$0.6
Midstream & Corporate
$0.3
$0.3
Subtotal
$4.4
$5.2 - $5.6
Net-Zero Pathway²
$0.1
$0.2 - $0.6
Total Oxy Capital
$4.5
$5.4 - $6.2
CAPITAL BUDGET - FEB 2023
2023 CAPITAL PLAN
Sustaining Capital¹
•
~$300 MM change from 2022:
Sustaining capital increased to ~$3.5 B for
2023+ related to higher production levels
2023 Capital
•
Program updates relative to 2022 spending:
EOR to reach sustaining capital levels & timing of GoM projects
.
OxyChem spending for Battleground expansion and plant
enhancement project
$5.4 B- $6.2 B CAPITAL PROGRAM BY ASSET3
$0.3
$0.4 - $0.8
$0.6
$0.6
$0.5
$0.7 - $0.8
Exploration & Corporate
Midstream & Marketing
OxyChem
•
•
Permitting success allows for additional DJ Basin drilling activity,
partially offset by JV impact on working interest in Delaware Basin
~15% domestic inflation partially offset by expected capital efficiencies
$200 MM - $600 MM for Emerging Low-Carbon and Net-Zero Pathway
projects
Capex range for oil & gas business relates to inflation, OBO, and
working interest variability
GoM
International
$2.3 - $2.6
Rockies & Other
Permian
2023 Budget ($ B)
NOTE: GULF OF MEXICO (GOM) 1MULTI-YEAR FLAT PRODUCTION ON AN ANNUAL BASIS IN A $40 WTI PRICE ENVIRONMENT 2NET-ZERO PATHWAY INCLUDES CAPITAL FROM ALL SEGMENTS
BUT IS PRIMARILY DRIVEN BY LCV CAPITAL SPENDING WHICH IS INCLUDED IN THE MIDSTREAM SEGMENT 3APPRAISAL CAPITAL INCLUDED WITHIN EACH BUSINESS ABOVE, WILL BE
INCLUDED WITH EXPLORATION IN REPORTED FINANCIALS
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