Occidentally Shot In The Foot (Except It Was On Purpose)

Seeking Alpha | Nov 10, 2019 at 6:51 PM
  • Like Exxon (XOM), Cenovus (CVE), and EQT (EQT) before it, Occidental Petroleum (OXY) overpaid for energy resources in an age of energy abundance.
  • The point is, OXY is now producing lots of domestic NGLs and dry gas, and that is obviously a big drag on returns.
  • And of course, that doesn’t even include the interest fees on OXY’s additional debt obligations.