(Reuters) -U.S. shale firm Occidental Petroleum said on Wednesday the prices it received for oil and gas production during the first quarter were higher than in the preceding three months.
Benchmark Brent crude prices averaged $74.98 a barrel during the first quarter, up 1.3% from the prior quarter, while U.S. natural gas prices jumped 30%, helped by higher demand from a cold winter in the country.
Occidental said its average realized price for oil output was $71.07 per barrel, compared to $69.73 per barrel it realized during the last quarter of 2024.
Meanwhile, its average realized price for total natural gas production rose to $2.30 per thousand cubic feet (Mcf) from $1.26 per Mcf during the quarter ended December 31.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Alan Barona)
