OXY, Buffett, and the Sounds of Inevitability
February 27, 2024
Well that’s interesting . . .
That’s what I’m thinking as I peruse OXY’s Q4 results. OXY effectively generated operating cash flow of ~$11.7B, spent about $6.2B on capex, and hence ended with $5.5B of free cash flow. It’s about what we’d expect given OXY realized worldwide oil price of $76.85/barrel for the year.