Oil and gas — Oil and gas lease operating expense
Occidental Petroleum Oil and gas — 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 3 years (FY 2022 to FY 2025), Oil and gas — Oil and gas lease operating expense shows an upward trend with a 5.1% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
Lower expenses relative to production indicate improved operational efficiency, while rising costs may signal aging infrastructure or inflationary pressures.
Detailed definition
These are the direct costs associated with operating and maintaining oil and gas wells and related gathering facilities....
Peer comparison
Standard 'LOE' metric used across the upstream oil and gas industry.
oxy_segment_oil_and_gas_oil_and_gas_lease_operating_expenseHistorical Data
| 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 | $1.01B | $1.01B | $1.01B | $1.01B | $1.17B | $1.17B | $1.17B | $1.17B | $1.16B | $1.18B | $1.21B | $1.19B | $1.22B | $1.14B | $1.17B | $1.16B | $1.12B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +16.1% | +0.0% | +0.0% | +0.0% | -0.7% | +1.6% | +2.4% | -1.3% | +2.2% | -6.7% | +3.4% | -1.6% | -3.2% |
| YoY Change | — | — | — | — | +16.1% | +16.1% | +16.1% | +16.1% | -0.7% | +0.8% | +3.2% | +1.9% | +4.8% | -3.7% | -2.7% | -3.0% | -8.1% |
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Frequently Asked Questions
- What is Occidental Petroleum's oil and gas — oil and gas lease operating expense?
- Occidental Petroleum (OXY) reported oil and gas — oil and gas lease operating expense of $1.12B in Q1 2026.
- How has Occidental Petroleum's oil and gas — oil and gas lease operating expense changed year-over-year?
- Occidental Petroleum's oil and gas — 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 — oil and gas lease operating expense?
- Over 3 years (2022 to 2025), Occidental Petroleum's oil and gas — oil and gas lease operating expense has grown at a 5.1% compound annual growth rate (CAGR), from $4.03B to $4.68B.
- What does oil and gas — oil and gas lease operating expense mean?
- The day-to-day costs required to operate and maintain oil and gas production wells.