Occidental Petroleum released its third quarter on Tuesday, reporting adjusted profit of $977 million or $1.00 per share surpassing analysts’ expectation of $0.74 adjusted per share income.

“Strong operational performance across all segments has resulted in our highest quarterly operating cash flow this year,” said President and Chief Executive Officer Vicki Hollub. “The integration of CrownRock is off to a great start in terms of personnel and operations, and we have made significant progress in our deleveraging efforts, achieving nearly 90% of our short-term debt reduction target.”

The Texas-based company saw a $572 million loss on asset sales. Earlier this year, it sold properties to Permian Resources and an unnamed buyer, in moves totaling $970 million.

The proceeds from the sales were used to help reduce Occidental’s debt pile, which was fueled in part by its $12 billion purchase of shale producer Crown Rock.

As a result, long-term debt at the end of the quarter fell to $25.46 billion, down $4 billion — or nearly 90% of Occidental’s near-term repayment target.

Meanwhile, the company’s oil production rose by 15.7% to 1.4 million barrels of oil and gas per day, as a result for the Crown Rock acquisition.

Full-year production from the expanded Permian properties is expected to reach 661,000 barrels of oil and gas per day, up from 588,000 bpd a year ago.

Operating profit from the chemical segment decreased to $304 million, down from $373 million a year ago.

The midstream segment, however, benefited from derivatives and a $490 million gain from selling shares in Western Midstream Partners. This resulted in the midstream business exceeding expectations with a pre-tax adjusted income of $145 million.