News listings

energy-pedia general news

Chevron announces USD20 billion capital and exploratory budget for 2019


06 Dec 2018

Photo - see caption

Chevron has announced a 2019 organic capital and exploratory spending program of $20 billion.

'Our 2019 budget supports a robust portfolio of upstream and downstream investments, highlighted by our world-class Permian Basin position, additional shale and tight development in other basins and our major capital project at TCO in Kazakhstan,' said Chairman and CEO Michael K. Wirth. 'Our investments are anchored in high-return short-cycle projects, with more than two-thirds of spend projected to realize cash flow within two years.'

Wirth continued,'We expect to continue to deliver steady production growth, enabling continued free cash flow that underpins our strong dividend and share repurchase program.'

Details of the 2019 Capital and Exploratory Spending Program include:

Photo - see caption

In the upstream business, approx. $10.4 billion is forecasted to sustain and grow currently producing assets, including $3.6 billion for the Permian and $1.6 billion for other shale and tight investments. Approx. $5.1 billion of the upstream program is planned for major capital projects underway, including $4.3 billion associated with the Future Growth Project at the Tengiz field in Kazakhstan. Global exploration funding is expected to be about $1.3 billion. Remaining upstream spend will be for early stage projects supporting potential future developments.

Approximately $2.5 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.

Original article link

Source: Chevron





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current deals: 1656
Completed deals: 5061

Company Profiles

Current Company Profiles: 2614

Corporate Activity

Current Corporate Activity articles: 3158

Companies Looking

Current number of articles: 422

Company Sales

Current Company Sales articles:1294

Geostudies

Current Geostudies articles: 601

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Lynx Information Systems
EP Consult Energies
RSK Logo 149
OPC
energy365
count geophysics
Bayphase
SLR Consulting logo
Government of South Australia
Union Jack Oil 149
Rose & Assocs 149
KL Publishing
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com