Chevron 4th quarter production dips slightly as prices sag

Thu Jan 9, 2014 5:18pm EST

Jan 9 (Reuters) - Chevron Corp, the second-largest U.S. oil company, said on Thursday its oil and gas production fell slightly last quarter from third-quarter levels as the price it received for crude dropped.

In its interim update for the fourth quarter, Chevron said average U.S. oil-equivalent production of oil and gas from wells fell to 650,000 barrels per day (bpd) in October and November from an average of 655,000 for the entire second quarter.

Chevron said its average realized U.S. price for crude and related products was $90.17 per barrel in the first two months of the fourth quarter, down from $97.18 in the third.

Worldwide, the company produced 2.56 million bpd in the first two months of the fourth quarter, down from 2.59 million in the third.

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