Occidental Petroleum 2006 Annual Report Download - page 15

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Occidental’s production from the Vintage acquisition averaged 53,000 BOE per day in 2006. During the fourth quarter of 2006, production from
the Plains assets averaged 6,000 BOE per day.
Elk Hills
Occidental operates the Elk Hills oil and gas field in the southern portion of California’s San Joaquin Valley with an approximate 78-percent
interest. The field was acquired in 1998 for $3.5 billion and is the largest producer of gas in California. In 2006, Occidental made additional
acquisitions of oil and gas producing properties near the field for approximately $434 million. Most of these properties were obtained as part of the
acquisition from Plains discussed above. Oil and gas production in 2006 from these properties and the field was approximately 91,000 BOE per
day. During 2006, Occidental performed infill drilling, field extensions and recompletions identified by advanced reservoir characterization
techniques resulting in 277 new wells being drilled and 479 wells being worked over. In addition, an air separation unit was installed to enhance
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