Occidental Petroleum Corp. on Monday said its third-quarter profit more than doubled, fueled by record energy prices, a jump in revenue and substantial one-time gains.

The L.A.-based oil and gas producer reported third-quarter net income of $1.75 billion ($4.25 per share), compared with $758 million ($1.88) for the like period a year earlier. Revenue rose 35 percent to $4.1 billion.

Analysts had expected third-quarter earnings of $2.63 per share on revenue of $3.82 billion.

Third-quarter net income was impacted by three significant items: a $463 million gain resulting from the sale of its interest in Premcor when Valero acquired Premcor for nearly $8 billion; a $335 million tax benefit due to the reversal of tax reserves no longer required; and a $98 million charge from the write-off of certain chemical plants.

Core earnings for the third quarter were $1.09 billion ($2.69 per share), compared with $759 million ($1.92) for the like period a year earlier.

Quarterly profit from the company’s oil and gas segment rose nearly 45 percent to $1.76 billion. Occidental’s chemical unit earnings were $3 million, compared with $141 million a year earlier. That unit’s earnings included nearly $164 million in charges related to the write-offs of idled and currently operating plants.

Shares of Occidental rose 2.6 percent to settle at $78.88 on Monday.