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• Oil and gas segment earnings were slightly higher at $2.5 billion for the first quarter of 2012, compared with the first quarter of 2011.
• Daily sales volumes increased from 728,000 barrels of oil equivalent per day in the first quarter of 2011 to 745,000 barrels of oil equivalent per day in the first quarter of 2012.

• The United States Geological Survey estimates the total, undiscovered, technically recoverable crude oil onshore in the US is 48.5 billion barrels, a majority of this falls into the Western half of the US.

• The US Office of Energy Administration (a division of the US Government Office of Energy) estimates that almost 2/3rds (64%) of all the oil shale resources in the contiguous United States are located in California.
• The shale formation outcrops to the west in the project area and plunges down to approximately 11,000 feet in the east.

• 51.12 million barrels of oil had been produced in Nevada.

• Petrotechnics, the global leader in the provision of frontline work execution solutions to the oil and gas sector, is to join industry experts, hosting the forthcoming Centre for Chemical Process Safety (CCPS) bootcamp.

• Occidental Petroleum Corporation announced net income of $1.6 billion ($2.01 per diluted share) for the fourth quarter of 2011, compared with the $1.2 billion ($1.49 per diluted share) for the fourth quarter of 2010.

• Sefton Resources starts drilling of four new wells at the Tapia Canyon oil field in California and expected take approximately five weeks to complete.
• Oil production in early 2012 is expected to rise by up to 75% to an estimated 240 barrels of oil per day, once the new wells are on stream.
• Southern Star gas interconnect agreement has been executed which will connect Sefton's pipeline system in Kansas to the Interstate Pipeline System and natural gas markets.

• The deep gas exploration and production sharing agreement was signed by the US energy major and Bahrain in February and has won cabinet approval
• The deal is part of the government's 12 National Oil and Gas Authority-led initiatives that sees the country's oil and gas resources are tapped ensuring steady supplies to the domestic market
• Occidental is expected to incur $100 to $200 million in operations costs for the seven year period

• Q2 2011 core and net income of $1.8 billion ($2.23 per diluted share)
• Q2 2011 daily oil and gas production averaged 715,000 BOE
• Q2 2011 daily domestic oil and gas production averaged 424,000 BOE

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