Oxy produces oil, natural gas and natural gas liquids in the Permian Basin of southwest Texas and southeast New Mexico. The Permian Basin is one of the largest and most active oil basins in the United States, with the entire basin accounting for approximately 19 percent of total U.S. oil production. Oxy's position in the Permian Basin makes the company the largest oil producer in Texas and New Mexico.
Approximately 58 percent of Oxy's Permian Basin oil production is from fields that actively employ the application of carbon dioxide (CO2) flood technology, an enhanced oil recovery (EOR) technique in which Oxy is an acknowledged leader. Significant development activity is under way on several CO2 projects, including implementation of new floods and expansion of existing CO2 floods.