December 7, 2017 / 12:09 AM / 10 days ago

BRIEF-‍Chevron Announces $18.3 Billion Capital And Exploratory Budget For 2018​

Dec 6 (Reuters) - Chevron Corp:

* ‍CHEVRON ANNOUNCES $18.3 BILLION CAPITAL AND EXPLORATORY BUDGET FOR 2018​

* ‍IN UPSTREAM BUSINESS, APPROXIMATELY $8.7 BILLION IS FORECASTED TO SUSTAIN CURRENTLY PRODUCING ASSETS FOR FY​

* ‍APPROXIMATELY $2.2 BILLION OF PLANNED CAPITAL SPENDING IS ASSOCIATED WITH COMPANY‘S DOWNSTREAM BUSINESSES FOR FY​

* CHEVRON - ‍PRODUCTION CURRENTLY EXCEEDING GUIDANCE IN PERMIAN, 2018 PLAN SHOULD DELIVER BOTH STRONG PRODUCTION GROWTH AND SOLID FREE CASH FLOW

* 2018 PLANNED CAPITAL & EXPLORATORY EXPENDITURES FOR TOTAL UPSTREAM BUSINESS $15.8 BILLION​

* - ‍2018 BUDGET IS DOWN FOR FOURTH CONSECUTIVE YEAR, REFLECTING PROJECT COMPLETIONS, IMPROVED EFFICIENCIES, AND INVESTMENT HIGH-GRADING​

* ‍DEDICATING APPROXIMATELY THREE-QUARTERS OF SPEND TO PROJECTS THAT ARE EXPECTED TO REALIZE CASH FLOW WITHIN TWO YEARS​

* ‍FULLY FUNDING ADVANTAGED PERMIAN BASIN POSITION​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below