Occidental Petroleum says Gulf of Mexico output hit by curtailments in Q2

U.S. shale producer Occidental Petroleum OXY said on Monday its Gulf of Mexico production in the second quarter was curtailed due to third-party constraints, extended maintenance, and schedule-related delays.

The company said sales volumes from what it calls the "Gulf of America" — referring to the Gulf of Mexico — are expected to be about 125,000 barrels of oil equivalent per day (boepd).

President Donald Trump issued an executive order in January 2025 calling on U.S. institutions to refer to the Gulf of Mexico as the Gulf of America.

Previously, Occidental forecast its Gulf of Mexico production to range between 126,000 and 134,000 boepd in the second quarter.

The company continues to expect annual production within its previously announced forecast of 1.38 million to 1.42 million boepd.

Occidental said its average realized price for total oil output was $63.76 per barrel in the April-June quarter, down from $71.07 per barrel in the preceding quarter.