Occidental Petroleum is largest oil producer in the Permian Basin. The company reported positive free cash flow even during the first quarter. Company generated $1.339 billion in cash flow from operations, while capital expenditure spending came just below $1.293 billion. Occidental made $46 million in free cash flow. This shows that Occidental has very strong cash flow producing assets.
Occidental Petroleum (OXY.US) - price is testing local resistance at $20.86 per share. If buyers will manage to broke above, then upward impulse toward $22.39 could be launched. However, if market sentiment changes, then level at $18.62 may provide some support. Source: xStation5
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