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Chevron Corp (CVX.N)

CVX.N on New York Stock Exchange

116.47USD
21 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Total signs agreement with Chevron on exploration in deepwater Gulf of Mexico‍​
2:30am EDT 

Sept 22 (Reuters) - TOTAL SA ::TOTAL SIGNS AGREEMENT WITH CHEVRON ON EXPLORATION IN DEEPWATER GULF OF MEXICO.TOTAL E&P USA, INC. HAS ENTERED INTO AN AGREEMENT TO CAPTURE 7 PROSPECTS OPERATED BY CHEVRON U.S.A. INC IN THE DEEPWATER GULF OF MEXICO. AGREEMENT COVERS 16 BLOCKS.TOTAL’S PARTICIPATION IN THESE WELLS WILL BE BETWEEN 25% AND 40%.‍​.  Full Article

Transocean receives early termination notice on the Discoverer Clear Leader
Wednesday, 20 Sep 2017 04:15pm EDT 

Sept 20 (Reuters) - Transocean Ltd :Transocean Ltd. receives early termination notice on the Discoverer Clear Leader.Transocean - ‍Subsidiary of Chevron elected to exercise option to terminate drilling contract for ultra-deepwater drillship Discoverer Clear Leader.Transocean - ‍In accordance with contract terms, Transocean will be compensated through lumpsum payment of about $148 million in contract termination fees​.Transocean Ltd - ‍Payment is expected to be received in Q4 of 2017​.  Full Article

Texas Pacific Land Trust announces arbitration settlement with Chevron U.S.A
Thursday, 14 Sep 2017 04:30pm EDT 

Sept 14 (Reuters) - Texas Pacific Land Trust :Texas Pacific Land Trust announces arbitration settlement with Chevron U.S.A., Inc..Texas Pacific Land Trust - ‍Will receive $7.7 million as part of settlement​.  Full Article

Chevron CEO John Watson to step down - WSJ
Tuesday, 22 Aug 2017 01:07pm EDT 

Aug 22 (Reuters) - :Chevron CEO John Watson to step down; transition expected to be announced next month; successor not yet finalized - WSJ.  Full Article

Soros Fund Management dissolves share stake in Chevron, Citi, Disney
Monday, 14 Aug 2017 05:14pm EDT 

Aug 14 (Reuters) - Soros Fund Management::Takes share stake of 2.5 million shares in Altaba - SEC filing.Takes share stake of 700,000 class A shares in Altice USA - SEC filing.Dissolves share stake in Chevron - SEC filing.Dissolves share stake in Citigroup - SEC filing.Ups share stake in Alibaba by 79.5 percent to 192,400 ADS - SEC filing.Dissolves share stake in Walt Disney Co - SEC filing.Dissolves share stake in CBS Corp - SEC filing.Change in holdings are as of June 30, 2017 and compared with the previous quarter ended as of March 31, 2017​.  Full Article

Chevron sees steady growth in Permian Shale operations
Friday, 28 Jul 2017 12:10pm EDT 

July 28 (Reuters) - Chevron Corp :Still expects first production from Tengiz expansion in Kazakhstan in 2022.Expects Permian Shale wells should have 30 percent initial rate of return for 2017 at $50 oil price clc1.Aims to sell 150,000 to 200,000 acres in the Permian this year and next year.Plans to add a drilling rig in the Permian every 8 to 10 weeks.Says plans to have 20 rigs in the Permian by the end of 2018.Says 'We are not holding back capital to the Permian'.Says no improvement in partitioned-zone talks between Kuwait, Saudi Arabia.Says no major impact to operations in Venezuela.Says continues to monitor situation in Venezuela.Says Nigerian operations continue to perform well.Doesn't see any curbs on ability to grow in Permian shale.Says dividend increase would be first priority for cash increase.Says share repurchases would be last use of cash.Says all three trains at Gorgon LNG project operating smoothly.Expects first LNG production from Wheatstone project next month.  Full Article

Chevron Q2 earnings per share $0.77
Friday, 28 Jul 2017 08:30am EDT 

July 28 (Reuters) - Chevron Corp ::Chevron reports second quarter net income of $1.5 billion.Q2 earnings per share $0.77.Q2 sales $33 billion versus I/B/E/S view $32.09 billion.Q2 earnings per share view $0.87 -- Thomson Reuters I/B/E/S.U.S. upstream operations incurred a loss of $102 million in Q2 compared with a loss of $1.11 billion last year, improvement partly reflected lower impairment charges.Says ‍improvement in U.S. upstream ops in Q2 also reflected higher crude oil and natural gas realizations, and higher gains on asset sales​ .International upstream operations earned $955 million in Q2 2017 compared with a loss of $1.35 billion a year ago.Included in quarter were impairments and other non-cash charges totaling $430 million​.Says ‍worldwide net oil-equivalent production was 2.78 million barrels per day in Q2 2017, compared with 2.53 million barrels per day​.International net oil-equivalent production of 2.08 million barrels per day in Q2 2017 was up 233,000 barrels per day from a year earlier.International downstream operations earned $561 million in Q2 2017 compared with $741 million a year earlier.‍U.S. downstream operations earned $634 million in Q2 2017 compared with earnings of $537 million a year earlier​.U.S. ‍net oil-equivalent production of 701,000 barrels per day in Q2 2017 was up 19,000 barrels per day from a year earlier​.U.S. ‍refinery crude oil input in Q2 2017 decreased 3 percent from year-ago period to 928,000 barrels per day​.  Full Article

Chevron reports quarterly dividend
Wednesday, 26 Jul 2017 04:30pm EDT 

July 26 (Reuters) - Chevron Corp ::Chevron announces quarterly dividend.Chevron Corp - ‍quarterly dividend of one dollar and eight cents​.  Full Article

Cal/OSHA, Chevron reach settlement for plan to improve safety at Chevron Richmond refinery​
Monday, 24 Jul 2017 03:06pm EDT 

July 24 (Reuters) - Chevron Corp ::California Department of Industrial Relations says Cal/OSHA, Chevron reached settlement for plan to "improve safety" at chevron richmond refinery​.‍California Department of Industrial Relations says negotiated settlement requires Chevron to institute some measures to ensure process safety at Richmond refinery​.‍California Department of Industrial Relations says Cal/OSHA agrees to withdraw nine of 17 violations cited in the appeal​.California Department of Industrial Relations​ says ‍agreement with Chevron resolves Chevron's appeal of citations issued by Cal/OSHA on Jan 30, 2013.Citations were issued by Cal/OSHA on Jan 30, 2013 after investigation into fire at richmond refinery on Aug 6, 2012 ​.  Full Article

Ensco announces three drillship contracts
Tuesday, 11 Jul 2017 09:05am EDT 

July 11 (Reuters) - Ensco Plc ::Ensco Plc announces three drillship contracts.Ensco Plc - Ensco DS-4 contracted to Chevron for two years Ensco DS-10 contracted to Shell for one year Ensco DS-7 to return to work with total​.Ensco Plc - ‍awarded three drillship contracts offshore West Africa, representing an aggregate three years of contracted term​.Ensco Plc - Ensco DS-4 is expected to commence a two-year contract with Chevron offshore Nigeria in August 2017.Ensco Plc - ‍three drillship contracts offshore West Africa also represent more than six additional years of options​.Ensco Plc - Ensco DS-10 is scheduled to commence work with shell offshore Nigeria in Q1 2018.Ensco Plc - ‍contract drilling expense for Q2 2017 is expected to be approximately $282 million after adjustment​.Ensco Plc - ‍anticipated capital expenditures are now expected to total approximately $350 million for nine month period from Q2 2017 through Q4 2017​.Ensco Plc - Ensco DS-10 delivery is expected to be accelerated into Q3 2017 from Q1 2019.Ensco Plc -Ensco DS-7 is now scheduled to mobilize to ivory coast to drill one well beginning in Aug 2017 that is expected to take 60 days to complete.  Full Article