(Reuters) -Occidental Petroleum beat Wall Street estimates for second-quarter profit on Wednesday, as the oil and gas firm benefited from higher oil production and a rise in crude prices.
The company said its worldwide realized crude oil prices stood at $79.89 per barrel, compared with $73.59 per barrel a year earlier.
Shares of the company were up 1.1% in trading after the bell.
Occidental’s quarterly production stood at 1.26 million barrels of oil equivalent per day (boepd), higher than the 1.22 million boepd in the year-ago period and analysts’ estimate of 1.24 million boepd.
The company posted adjusted profit of $1.03 per share for the quarter ended June 30, compared with analysts’ average estimate of 77 cents per share, according to LSEG data.
(Reporting by Seher Dareen in Bengaluru; Editing by Shilpi Majumdar)
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