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Chevron Corp (CVX)

CVX on New York Consolidated

120.22USD
17 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Keyera announces long-term Duvernay natural gas liquids agreement with Chevron
Tuesday, 10 Oct 2017 08:14am EDT 

Oct 10 (Reuters) - Keyera Corp :Keyera announces long-term Duvernay natural gas liquids agreement with Chevron.Keyera Corp - ‍has entered into a 20-year midstream agreement with chevron canada limited​.Keyera Corp - agreement is for co ‍to fractionate and handle natural gas liquids from Chevron's Kaybob Duvernay operations near Fox Creek, Alberta​.Keyera Corp - ‍agreement includes an area of dedication that is in excess of 230,000 gross operated acres and also includes take-or-pay commitments​.Keyera Corp - ‍under terms of agreement, Chevron will deliver approximately 50% of its natural gas liquids from area of dedication to Keyera​.  Full Article

Glencore is said to mull bid for Chevron's South Africa assets - Bloomberg
Friday, 29 Sep 2017 10:14am EDT 

Sept 29 (Reuters) - :Glencore is said to mull bid for Chevron's South Africa assets - Bloomberg, citing sources.  Full Article

Chevron appoints Michael Wirth as CEO
Thursday, 28 Sep 2017 09:15am EDT 

Sept 28 (Reuters) - Chevron Corp ::Michael K. Wirth named chairman and CEO of Chevron.Chevron Corp - ‍John S. Watson to retire​.Chevron Corp - ‍Wirth, who is currently vice chairman of board and executive vice president of midstream and development, succeeds John S. Watson​.Says ‍Watson to retire from company and its board on February 1, 2018​.Chevron Corp - Mark Nelson will become vice president of midstream, strategy & policy, effective February 1, 2018​.  Full Article

Total signs agreement with Chevron on exploration in deepwater Gulf of Mexico‍​
Friday, 22 Sep 2017 02:30am 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

UPDATE 1-Total-ENI-Novatek consortium bids for Lebanon offshore blocks

BEIRUT, Oct 13 The only bidder in Lebanon's first tender for five offshore energy blocks was a consortium made up of France's Total, Italy's ENI and Russia's Novatek, Minister of Energy and Water Cesar Abi Khalil said on Friday.