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Occidental raises Q3 production guidance

Occidental Petroleum Corp. increased its production guidance for the third quarter to 1.1 million barrels of oil equivalent per day to 1.12 million boe/d due to lower downtime in Anadarko Petroleum Corp.'s DJ Basin assets and strong performance from Occidental's Permian Basin assets.

Adjusted to the closing date of its merger with Anadarko, Occidental said combined production from both companies' continuing operations would be between 1.06 million boe/d to 1.1 million boe/d, according to an Oct. 15 securities filing.

Occidental Petroleum will release its third-quarter results on Nov. 4.