Permian Basin

The Permian Basin extends throughout West Texas and Southeast New Mexico and is one of the largest and most active oil basins in the United States, accounting for more than 49% of total US oil production in 2025. OXY produced ~10% of basin oil in 2025 (786 Mboe/d). Managed via two businesses: Permian Resources (unconventional horizontal development, 1.5M net acres, ~6,300 gross wells, added 390 MMboe to proved reserves in 2025 via infill and extensions) and Permian EOR (CO2 flood + waterflood EOR on conventional reservoirs, 1.4M net acres, ~11,900 gross wells, 34 active CO2 floods, 50+ years of experience, large inventory of future CO2 projects developable over the next 20 years). 2025 capex $3.4B. Reserves additions in 2025 included infill (54 MMboe), economic conditions (+122 MMboe), partly offset by price revisions (-94 MMboe) and reservoir performance (-66 MMboe). 278 MMboe transferred from PUD to PD in 2025; ~$8.4B planned over next 5 years to develop Permian PUD reserves (69% of group PUD).