Oil and gas lease operating expense
Occidental Petroleum Oil and gas lease operating expense decreased by 3.2% to $1.12B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 8.1%, from $1.22B to $1.12B. Over 4 years (FY 2021 to FY 2025), Oil and gas lease operating expense shows an upward trend with a 10.3% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
A decrease relative to production volume indicates improved operational efficiency, while an increase may signal rising field maintenance costs or aging infrastructure.
Detailed definition
This represents the direct costs associated with the day-to-day operation of oil and gas wells and related production fa...
Peer comparison
Standardized as 'Lease Operating Expense' (LOE) across the E&P industry; essential for calculating lifting costs per barrel.
other_results_of_operations_expense_from_oil_and_gas_pro_2fb515Historical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $712.00M | $829.00M | $843.00M | $864.00M | $1.01B | $1.06B | $1.10B | $1.08B | $1.13B | $1.19B | $1.28B | $1.16B | $1.18B | $1.21B | $1.19B | $1.22B | $1.14B | $1.17B | $1.16B | $1.12B |
| QoQ Change | — | +16.4% | +1.7% | +2.5% | +16.3% | +5.1% | +4.5% | -2.0% | +4.5% | +5.2% | +7.4% | -9.1% | +1.6% | +2.4% | -1.3% | +2.2% | -6.7% | +3.4% | -1.6% | -3.2% |
| YoY Change | — | — | — | — | +41.2% | +27.4% | +30.8% | +25.1% | +12.4% | +12.6% | +15.8% | +7.4% | +4.3% | +1.5% | -6.7% | +4.8% | -3.7% | -2.7% | -3.0% | -8.1% |
Business Segments
| Segment | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|
| Oil and gas | $1.22B | $1.14B | $1.17B | $1.16B | $1.12B |
| Total | $1.22B | $1.14B | $1.17B | $1.16B | $1.12B |
Oil and gas lease operating expense at Other Companies
Frequently Asked Questions
- What is Occidental Petroleum's oil and gas lease operating expense?
- Occidental Petroleum (OXY) reported oil and gas lease operating expense of $1.12B in Q1 2026.
- How has Occidental Petroleum's oil and gas lease operating expense changed year-over-year?
- Occidental Petroleum's oil and gas lease operating expense decreased by 8.1% year-over-year, from $1.22B to $1.12B.
- What is the long-term trend for Occidental Petroleum's oil and gas lease operating expense?
- Over 4 years (2021 to 2025), Occidental Petroleum's oil and gas lease operating expense has grown at a 10.3% compound annual growth rate (CAGR), from $3.16B to $4.68B.
- What does oil and gas lease operating expense mean?
- The direct costs of running and maintaining oil and gas production sites.