April 27, 2018 / 4:02 PM / 3 months ago

BRIEF-Chevron Sees Oil Demand Growing For Foreseeable Future

April 27 (Reuters) - Chevron Corp:

* FIRST-QUARTER EARNINGS CONFERENCE CALL BEGINS; CHIEF EXECUTIVE MIKE WIRTH NOT ON CALL

* CHIEF FINANCIAL OFFICER PAT YARRINGTON EXPECTS WHEATSTONE TRAIN 2 TO BE PRODUCING LATER IN SECOND QUARTER

* CFO SAYS SWAPPED 25,000 ACRES IN PERMIAN SHALE DURING FIRST QUARTER

* SAYS BELIEVES OIL DEMAND WILL CONTINUE TO GROW ‘FOR THE FORESEEABLE FUTURE’

* SAYS SEEING SOME OILFIELD SERVICE COST INFLATION IN PERMIAN BASIN AND OTHER U.S. SHALE FIELDS

* CFO: ‘WE’RE NOT AFTER VOLUME GROWTH FOR VOLUME GROWTH’S SAKE. WE’RE AFTER VALUE’

* CFO SAYS ‘FEELS GOOD’ ABOUT PLANS FOR 20 DRILLING RIGS IN PERMIAN BASIN

* CFO SAYS 90 PERCENT OF PRODUCTION AT GORGON AND WHEATSTONE LNG PROJECTS UNDER LONG-TERM CONTRACTS Source text for Eikon: Further company coverage: (Reporting By Ernest Scheyder)

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