Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Occidental Petroleum quits North Dakota oil patch


Occidental Petroleum Corp., the fourth-largest U.S. oil producer, swung to a significant net loss for the third quarter on Wednesday as it booked charges for dropping futures prices and halted projects while saying it was exiting North Dakota.

The company, which also has operations in the Middle East and Colombia, showed a net loss of $2.61 billion, or $3.42 per share, in the third quarter ended Sept. 30, compared with a profit of $1.21 billion, or $1.55 per share, in the year-ago quarter.


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