Chevron Archives - Page 30 of 32

Exxon Crashes, Chevron Crushes on a Mixed Day For Big Oil

April 27, 2018

From Bloomberg Chevron result took full advantage of crude’s price rally Exxon, in rebuilding mode, misses estimates on production Chevron Beats Estimates, Exxon Mobil Falls Short For the biggest U.S. oil explorers, the first quarter was a study in contrasts: Chevron Corp. beat every analyst estimate, while larger rival Exxon Mobil Corp. fell short on both production and profit. The performances underscore the challenges

Brazil’s 15th Offshore Bidding Round Sets a Record

April 2, 2018

Brazil’s 15th Bidding Round raised over USD$2.4 billion – this sets a new record for Brazil’s auctions. According to the Brazilian National Petroleum Agency, the 15th round will generate investments of USD$361.6 million in the first/exploration phase of the concession contracts alone. Brazil said that 22 offshore blocks were acquired out of the 47 offered. However, there were no offers

Chevron: 155% Reserves Replaced, $9.2 Billion Earned in 2017

February 2, 2018

Chevron Corporation (ticker: CVX) reported earnings of $3.1 billion for Q4 2017. For reference, in Q4 2016 the company made $415 million. Q4 2017 earnings include non-cash tax benefits of $2.02 billion, related to the U.S. tax reform and a non-cash charge of $190 million related to a former mining asset. The company said that foreign currency effects decreased earnings

Chevron Corporation (CVX) Releases 2018 CapEx Budget and a $1 Million Donation

December 7, 2017

U.S. Upstream getting $6.6 billion; international upstream $9.2 billion $5.5 billion for the company’s share of expenditures by affiliated companies $2.2 billion of planned capital spending is associated with the company’s downstream businesses that refine, market and transport fuels, and manufacture and distribute lubricants, additives and petrochemicals $1 million was donated to the Oakland-based BASIC Fund (details below) “Our 2018

ExxonMobil Starts Production Offshore Newfoundland/Labrador

November 28, 2017

Hebron field project expected to produce 150 MBOPD at peak Project expects to produce up to 150,000 barrels of oil per day at peak Project had more than 40 million hours without a lost-time injury Project completed ahead of schedule Exxon Mobil Corporation (ticker: XOM) announced today that the Hebron project safely started production. The project was revealed in a

Duvernay on the Rise: Chevron (CVX) Jumps in with 55,000-Acre Drilling Program

November 8, 2017

NEB: Duvernay holds 76.6 Tcf of recoverable gas, 6.3 billion barrels of recoverable NGLs and 3.4 billion recoverable barrels of crude oil Eighty-year-old Chevron Canada Limited (Chevron ticker: CVX) is moving into development on a portion of its leaseholdings in the Kaybob Duvernay area of west-central Alberta, following a three-year appraisal program. Chevron said the program will comprise approximately 55,000 acres of

Chevron Australia Pulls Plug on Bight Exploration

October 13, 2017

Chevron no-go decision for offshore project was a commercial decision Chevron Corporation’s (ticker: CVX) Australia subsidiary Chevron Australia has announced the decision to discontinue the Great Australian Bight exploration program. Chevron Australia’s affiliates acquired two deepwater exploration blocks in the Great Australian Bight Basin in October 2013. The acreage spans more than 32,000 square kms. Chevron Australia’s affiliate is operator with

With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2

July 28, 2017

In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates. ExxonMobil ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the year-to-date to $7.4 billion. This represents a 97% improvement from the same quarter of 2016—in which Exxon earned $1.7 billion.

Canadian Natural Resources Pays Shell, Marathon $8.24 Billion

May 31, 2017

CNQ finalizes acquisition of 70% of Athabasca Oil Sands Project Canadian Natural Resources Limited (ticker: CNQ) announced today that it has completed the acquisition of 70% of the Athabasca Oil Sands Project. The remaining 30% of the working interest is broken down between Chevron Canada Limited—which retains 20% and Shell Canada Limited—which retains 10%, according to a press release on

Anadarko, Chevron, Plains All American Top List of Best U.S. Oil & Gas Employers: Indeed

January 13, 2017

Indeed releases its ‘Best Places to Work’ rankings International employment website Indeed serves more than 200 million people each month who are searching for jobs, posting resumes, and researching companies in 60 countries. According to Indeed’s research, visitors who were oil and gas sector employees, former employees and job seekers who visited Indeed.com who posted reviews of the oil and gas

Chevron announces $20 Billion Capex in 2017

December 8, 2016

70% of planned upstream projects will generate production in 2 years California-based Chevron Corp. (ticker: CVX) announced its 2017 capital budget Wednesday. The company will cut its capex spending for the fourth consecutive year as it focuses on short-cycle, high-return investments, according to the company. Including $4.7 billion in affiliate expenditure, Chevron’s 2017 budget will be $19.8 billion, the company

Chevron, Exxon, and ConocoPhillips Remain Focused on U.S. Onshore, LNG

August 1, 2016

Q2 proves to be a disappointing quarter for majors like Chevron, ExxonMobil and ConocoPhillips in terms of earnings, but the companies remain focused on the future U.S.-based oil and gas majors Chevron (ticker: CVX), ExxonMobil (ticker: XOM), and ConocoPhillips (ticker: COP) all reported their second quarter earnings last week, each showing significant hits from the continued oil and gas downturn.

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