Chevron - what next?

Get this report


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

Already a leader in the Permian, Chevron is well positioned to deliver sustained, profitable growth if the oil price holds up. Add its youthful, highly cash-generative legacy assets and the company is in an enviable position.

What’s inside this report?

Chevron’s bid for Anadarko was compelling. But the company didn’t need the deal. We analyse what’s next for the SuperMajor and highlight why we think it is in an enviable position.

Key themes we discuss are:

  • Chevron’s strong commitment to capital discipline
  • Its asset rationalisation programme and focus on portfolio high-grading
  • The quality and depth of Chevron’s Permian tight oil portfolio

Why buy this report?

  • Get our pick of Chevron’s top five most likely takeover targets, plus one wild card
  • Learn why we think there’s a further US$28 billion in potential upstream disposals in Chevron’s portfolio
  • How can Chevron create more value in the Permian?

Benefit from our proprietary data and analysis, underpinned by our industry leading asset models to help you understand what’s next for Chevron.

Chevron's bid for Anadarko was compelling from a strategic, portfolio and valuation perspective. But the company underscored its commitment to capital discipline by not raising its initial offer. So, what next? The execution of the Permian tight oil growth agenda and growing shareholder distributions will be strategic priorities. Chevron could also expand its disposal programme and corporate M&A will remain in the crosshairs.

Table of contents

Tables and charts

This report includes 13 images and tables including:

  • Strategic fit of Chevron's upstream portfolio – US$28 billion yet to sell?
  • Chevron's potential upstream asset sales candidates
  • Chevron's cash inflows and outflows (base case price and assuming 7% per annum dividend growth)
  • Geographical overlap of potential Permian acquisition targets
  • New growth opportunities added since 2014
  • WM base-case Permian capex projection
  • Evolution of Permian NPV10
  • Potential corporate acquisition targets
  • Impact of corporate acquisitions on Chevron's Permian production and company EVs
  • Wood Mackenzie production outlook
  • Market premium / discount to WM NPV,10
  • % of total upstream value accounted for by the top four regions
  • Upstream NPV,10 versus number of countries with commercial assets

What's included

This report contains:

  • Document

    Chevron - what next?

    PDF 1.93 MB

Our corporate reports provide independent analysis on over 50 of the world’s most important oil and gas companies.