Occidental Petroleum 2003 Annual Report Download - page 19

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(a) The 2003 amount represents revenue from a co-generation plant in Taft,
Louisiana.
(b) Includes U.S. federal tax charge of $6 million related to oil and gas in
2003. Segment earnings in 2002 were affected by $402 million of net credits
allocated, comprising $1 million of charges and $403 million of credits in
oil and gas and chemical, respectively. The chemical amount includes a $392
million credit for the sale of the Equistar investment, which resulted in a
net gain of $164 million. Segment earnings in 2001 were affected by $14
million of net charges allocated, comprising $56 million of charges and $42
million of credits in oil and gas and chemical, respectively. The oil and
gas amount includes a charge for the sale of the Indonesian Tangguh LNG
project. The chemical amount includes credits for the sale of certain
chemical operations.
(c) The 2003 amount includes a $61 million interest charge to repay a $450
million senior note that had 10 years of remaining life, but subject to
remarketing on April 1, 2003. The 2002 and 2001 amounts are net of $21
million and $102 million, respectively, of interest income on notes
receivable from Altura partners.
(d) The 2001 tax amount excludes the income tax benefit of $188 million
attributed to the sale of the entity that owns a Texas intrastate pipeline
system. The tax benefit is included in Other.
(e) The 2003 amount includes $58 million of corporate equity-method investment
losses and $63 million of environmental remediation expense. The 2002
amount includes $22 million of preferred distributions to the Altura
partners, $23 million of environmental remediation expenses and $25 million
of corporate equity-method investment losses. The 2001 amount includes the
after-tax loss of $272 million related to the sale of the entity that owns
a Texas intrastate pipeline system, a $109 million charge for environmental
remediation expenses and $104 million of preferred distributions to the
Altura partners.
OIL AND GAS
In millions, except as indicated 2003 2002 2001
======================================== ======== ======== ========
SEGMENT SALES $ 6,003 $ 4,634 $ 5,134
SEGMENT EARNINGS $ 2,664 $ 1,707 $ 2,845
CORE EARNINGS (a) $ 2,664 $ 1,707 $ 2,446
NET PRODUCTION PER DAY
UNITED STATES
Crude oil and liquids (MBBL)
California 81 86 76
Permian 150 142 137
Horn Mountain 21 1 --
Hugoton 4 3 --
-------- -------- --------
Total 256 232 213
Natural Gas (MMCF)
California 252 286 303
Hugoton 138 148 159
Permian 129 130 148
Horn Mountain 13 -- --
-------- -------- --------
Total 532 564 610
LATIN AMERICA
Crude oil & condensate (MBBL)
Colombia 37 40 21
Ecuador 25 13 13
-------- -------- --------
Total 62 53 34
MIDDLE EAST
Crude oil & condensate (MBBL)