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Occidental Petroleum (NYSE:OXY) -1.6% in early trading Monday after disclosing its U.S. Gulf operations experienced production curtailments in Q2 due to third-party constraints, extended facility maintenance, and schedule-related delays.
As a result of the curtailments, Occidental (NYSE:OXY) said it estimates Q2 sales volumes from the U.S. Gulf of 125K boe/day, after previously forecasting production from the Gulf at 126K-134K boe/day.
Occidental (OXY) still expects total company production to remain within its previously announced guidance range of 1.38M-1.42M boe/day for the quarter.
The company also said its Q2 average realized price for total oil output was $63.76/bbl, down from $71.07/bbl in Q1.