Occidental Petroleum Corp Q2 2020 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Vicki, you mentioned about -- currently, you already received revenue in the carbon sequencing. Can you share with us that how big is that number right now? And my second question is that I'm trying to get a little bit better understanding, how, from the second to third quarter the drop, as you mentioned, that it's bigger than your underlying decline and saying that this is the timing of the well. So can you give us some -- a little bit better understanding and color that -- by month, that the number of well that is going to come on stream, so that we can do our model better?

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : No. How much is the revenue? How much you are generating now on those carbon sequencing? And what's the projection on that.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : That's correct, because I don't get to how -- why that the production will jump up so much based on the activity level that you're mentioning.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Jeff in Permian, those well coming on stream in the second half will be pretty variable? Or that is going to be second half or the more in the fourth quarter?

Question: Leo Mariani - KeyBanc Capital Markets Inc., Research Division - Analyst : I was hoping you could talk a little bit on kind of leading-edge well costs in terms of what you're seeing. Obviously, there's been significant cost reductions in the business here that you guys have been able to implement. Could you give us maybe a little bit more color on what you're seeing in terms of kind of completion and drilling and kind of facilities costs kind of all in on a per-well basis in the Permian and the DJ, kind of where they are today versus kind of where they were maybe to start the year on like a per-foot basis or something? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 11, 2020 / 3:00PM, OXY.N - Q2 2020 Occidental Petroleum Corp Earnings Call

Question: Leo Mariani - KeyBanc Capital Markets Inc., Research Division - Analyst : Okay. That's helpful. And I guess just want to follow-up a little bit on the debt-reduction initiatives. You guys obviously did a good job kind of talking about sort of what's underway on the asset sales side. You guys also, of course, are free cash flow positive. And then lastly, you talked about refinancing some of the nearer-term maturities. Are there any other levers that you guys might consider to kind of accelerate debt pay down, not necessarily maybe today, but as you look forward into next year? Any other things that you think you might pull out of the toolbox to try to cut that a little faster here?