stories

Recoverable Resource In Duvernay Shale Play

Chevron Corporation today announced the successful conclusion of the initial exploration phase by its Canadian subsidiary, Chevron Canada Limited, in the Kaybob area of the Duvernay play, located in west-central Alberta, Canada.

Chevron Acquires New Acreage Offshore Australia

SAN RAMON, Calif., Oct. 22, 2013 – Chevron Corporation (NYSE:CVX) today announced its Australia subsidiary has acquired exploration interests in two offshore blocks located in the Bight Basin, a deepwater frontier basin.

Chevron Issues Interim Update for Third Quarter 2013

SAN RAMON, Calif., October 9, 2013 – Chevron Corporation (NYSE: CVX) today reported in its interim update that earnings for the third quarter 2013 are expected to be lower than in the second quarter. Upstream results for the third quarter are projected to be slightly higher than the prior quarter while downstream earnings are expected to be significantly lower. Second quarter earnings included foreign exchange gains of approximately $300 million, compared to similarly sized losses anticipated for the third quarter. The interim update contains industry and company operating data for the first two months of the third quarter. Readers are advised that the commentary below compares results for the first two months of the third quarter 2013 to full second quarter 2013 results, unless indicated otherwise.

Chevron Announces Key Senior Leadership Appointments

Chevron Corporation (NYSE: CVX) today announced that it is making three key appointments to its executive team and realigning its existing technology and services organizations.

Chevron and Tohoku Electric Wheatstone LNG Agreement

Chevron Corporation (NYSE: CVX) today announced that its Australian subsidiaries have signed binding long-term Sales and Purchase Agreements (SPAs) with Tohoku Electric Power Company, Inc. (Tohoku) to supply liquefied natural gas (LNG) from the Chevron-operated Wheatstone Project in Western Australia.

Joe Naylor Named Corporate VP Of Strategic Planning

SAN RAMON, Calif., August 5, 2013 –Chevron Corporation (NYSE: CVX) has named Joe M. Naylor corporate vice president of Strategic Planning, effective immediately.

Chevron Reports Second Quarter Net Income of $5.4Bn

Chevron Corporation (NYSE: CVX) today reported earnings of $5.4 billion ($2.77 per share – diluted) for the second quarter 2013, compared with $7.2 billion ($3.66 per share – diluted) in the 2012 second quarter.

Chevron Announces Quarterly Dividend (July 31, 2013)

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar ($1.00) per share, payable September 10, 2013, to holders of common stock as shown on the transfer records of the Corporation at the close of business on August 19, 2013.

YPF Sign Accord To Develop Vaca Muerta Shale

A subsidiary of the company today signed an agreement with affiliates of the Argentine oil company YPF S.A. that furthers the development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province.

Chevron Issues Interim Update for Second Quarter 2013

Chevron Corporation (NYSE: CVX) today reported its interim update, which contains industry and company operating data for the first two months of the second quarter.

Chevron Confirms First Cargo from Angola LNG in 2013

Chevron Corporation’s (NYSE: CVX) subsidiary Cabinda Gulf Oil Company Limited today confirmed that initial production of liquefied natural gas (LNG) has commenced at the Angola LNG project.

Chevron Announces Senior Leadership Change

Chevron Corporation announced that Jeff Shellebarger has been named president of Chevron North America Exploration and Production Company, effective August 1, 2013. Shellebarger succeeds Gary Luquette, who will retire from Chevron after 35 years of distinguished service.

Chevron Contributes to Oklahoma Tornado Relief Efforts

Chevron Corporation (NYSE: CVX) today announced that it has made a $500,000 contribution to the American Red Cross for the relief efforts under way to assist victims of the tornadoes that struck Moore, Oklahoma, earlier this week. In addition, the company will match donations made to the relief effort by its employees and retirees.

Chevron on Canadian Decision in Ecuador Proceeding

The Ontario Superior Court of Justice has stayed an action initiated by a group of Ecuadorian plaintiffs seeking to have a judgment of an Ecuadorian court against Chevron Corp. recognized and enforced in Ontario.

Chevron Reports First Quarter Net Income of $6.2 Billion

Chevron Corporation today reported earnings of $6.2 billion ($3.18 per share – diluted) for the first quarter 2013, compared with $6.5 billion ($3.27 per share – diluted) in the 2012 first quarter.

11% Increase In Quarterly Dividend April 2013

The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar ($1.00) per share, payable June 10, 2013, to holders of common stock as shown on the transfer records of the Corporation at the close of business on May 17, 2013.

Natural Gas Discovery Offshore Australia 2013

Chevron Corporation today announced further drilling success by its Australian subsidiary in the Exmouth Plateau area, located in the Carnarvon Basin.

Statement Regarding The Lago Agrio Litigation

Chevron Corporation (“Chevron”) and Burford Capital Limited (“Burford”) today issued this joint statement concerning the Lago Agrio litigation (the “Litigation”)

Environmental Claims Disavowed Under Oath

SAN RAMON, Calif., April 12, 2013 – Stratus Consulting has provided sworn declarations outlining the firm’s knowledge of the plaintiffs’ lawyers’ misconduct in the ongoing environmental litigation in Lago Agrio, Ecuador as well as testifying that there is no scientific merit to the plaintiffs’ damages claims against Chevron Corp. (NYSE: CVX) and Texaco Petroleum (TexPet)

Chevron Issues Interim Update for First Quarter 2013

Chevron Corporation today reported its interim update, which contains industry and company operating data for the first two months of the first quarter.

Chevron and Chubu Electric Wheatstone LNG Agreement

Chevron Corporation today announced that its Australian subsidiaries have signed binding long-term Sales and Purchase Agreements with Chubu Electric Power Company Inc. for liquefied natural gas from the Wheatstone Project in Western Australia.

Deepwater Oil Discovery in Gulf of Mexico (March 23, 2013)

The Walker Ridge Block 98 Well No. 1 encountered more than 400 feet (122 m) of net pay. The well is located approximately 190 miles (308 km) off the Louisiana coast in 6,127 feet (1,868 m) of water and was drilled to a depth of 31,866 feet (9,713 m).

Final Investment On Moho Nord Joint Development

March 22, 2013 – Chevron Corporation (NYSE: CVX) announced that its subsidiary Chevron Overseas (Congo) Limited will proceed with the joint development of the Moho Bilondo “Phase 1 bis” and Moho Nord projects as the company's latest deepwater developments offshore the Republic of the Congo.

2017 Production Target Highlights Future Growth

Chevron Corporation executives said today at the company’s annual security analyst meeting in New York that the company is continuing to deliver industry-leading operational and financial results and progressing key development projects.

Successful Test Well In Gulf Of Mexico

Chevron Corporation today announced that it had conducted a successful production test on the St. Malo PS003 well in the prolific Lower Tertiary trend in the deepwater Gulf of Mexico. Oil flow rates, though limited by testing equipment constraints, exceeded 13,000 barrels of oil per day.