UPDATE 1-Shale producer Occidental beats quarterly profit estimates

Occidental Petroleum Corporation
Chevron Corporation
Exxon Mobil Corporation

Occidental Petroleum Corporation

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Chevron Corporation

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May 5 (Reuters) - Shale producer Occidental Petroleum OXY.N beat Wall Street expectations for first-quarter profit on Tuesday, helped by higher production in the U.S. even as the war in Iran disrupted its global operations.

The first quarter was marked by extreme volatility in oil prices, after the U.S.-Israeli war in Iran disrupted supply chains and damaged key energy infrastructure.

Occidental's average global production was 1.42 million barrels of oil equivalent per day (mmboepd) during the January-March period, compared with 1.39 mmboepd a year earlier.

The Houston, Texas-based company posted an adjusted profit of $1.06 per share for the three months ended March 31, compared with expectations of 58 cents, according to data compiled by LSEG.


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