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May 28, 2014
11:34 EDTCVXChevron says on track to grow production to 3.1M boepd by 2017
Chevron provided an overview of the companyís 2013 operational performance and future growth plans at its 2014 Annual Meeting of Stockholders, with CEO John Watson discussing Chevronís 2013 financial and operational performance. George Kirkland, Chevron vice chairman, said the company is on track to grow production to 3.1M barrels of oil-equivalent per day by 2017, up 20% from 2013, with more growth expected through the end of the decade. To reach this goal, the company has more than 70 projects, each with a Chevron share of more than $250M, scheduled to start-up by the end of this decade. In Australia, the Gorgon project continues to make steady progress toward first liquefied natural gas, and is 80% complete with start-up expected in mid-2015. Wheatstone is now almost 35% complete and remains on schedule for a start-up in 2016. Kirkland said growth plans include investing $39.8B in 2014, which represents a $2B reduction from 2013 spending. Kirkland concluded by affirming the Downstream and Chemicals business focus on select areas of growth, including key Chevron Phillips Chemical projects that take advantage of existing infrastructure and attractive feedstocks.
News For CVX From The Last 14 Days
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October 1, 2015
08:08 EDTCVXKosmos Energy says ended Q3 with roughly $1.9B of liquidity
Kosmos Energy (KOS) announced two developments that together strengthen the company's liquidity and better position Kosmos for continued success in a lower commodity price environment. In addition, the company provided an update on its exploration drilling program. Kosmos announced that the borrowing base under its reserves-based lending facility remains unchanged at $1.5B following its lenders' semi-annual redetermination process which concluded on September 30, 2015. Kosmos ended the third quarter with approximately $1.9B of liquidity and net debt of $500M as of September 30, 2015, which is flat with the second quarter of 2015. Kosmos' second exploration well offshore Mauritania, Marsouin-1, was spud on August 28, 2015, with results anticipated in the middle of the fourth quarter. Marsouin-1 is located in Block C8 approximately 60 kilometers north of the basin-opening Tortue-1 well in a water depth of approximately 2,400 meters. The well is designed to test a four-way trap with multiple stacked targets, including Lower Cenomanian, Albian, and Aptian formations. As operator of the well, Kosmos currently holds a 60% working interest with its partners Chevron Mauritania Exploration Limited, a wholly owned subsidiary of Chevron Corporation (CVX), and Societe Mauritanienne Des Hydrocarbures et de Patrimoine Minier holding 30% and 10%, respectively.
September 30, 2015
14:10 EDTCVXChevron amends bylaws to implement proxy access
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September 25, 2015
09:10 EDTCVXChevron upgraded to Peer Perform from Underperform at Wolfe Research
September 23, 2015
05:31 EDTCVXExxon Mobil initiated with an Underperform at Macquarie (yesterday)
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September 22, 2015
13:13 EDTCVXChevron initiated with an Underperform at Macquarie
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September 21, 2015
09:39 EDTCVXChevron upgraded to Accumulate from Hold at Tudor Pickering
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