Occidental previews Q2 2026: collar settlements cut operating cash flow by $156 million
Occidental Petroleum released a preliminary summary of factors it expects to affect second-quarter 2026 results, furnished as Exhibit 99.1 to an 8-K. The filing is not a full earnings release or an estimate of quarterly earnings, and the figures are subject to finalization. Shareholders get a first look at realized prices and a $156 million cash flow hit from crude oil collar settlements.
Key points
- Crude oil collar settlements reduced operating cash flow before working capital by $156 million in Q2 2026.
- Worldwide realized oil price averaged $96.78 per barrel, versus average WTI of $92.79 and Brent of $97.06.
- Worldwide realized natural gas price was $(0.80) per Mcf, with the United States at $(1.48) per Mcf.
- Average diluted shares outstanding were 1,012.2 million for the quarter.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 10, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.