Insight
Strategy update: Chevron's 2019 Analyst Day dominated by massive Permian upgrade
Report summary
Chevron outlined how it has repositioned its portfolio to deliver disciplined growth and free cash flow in its 2019 Analyst Day presentation. A major upgrade to the Permian production and resources grabbed the headlines. This flowed through to new production growth guidance out to 2023. Balance sheet strength, competitive cash flow breakevens and economically-advantage growth were highlighted as core areas of competitive strength. Investors will also have been impressed with the positive messaging on the commitment to shareholder distributions. We take a look at whether Chevron is on track to achieve its growth projections and analyse the Supermajor’s financial strength.
Table of contents
-
2019 Analyst Meeting
- Overview
- Our take
- Financial framework
- New production growth targets unveiled
- Is the new Permian guidance achievable?
- Other unconventional opportunities are also growing
- Major capital growth projects making a much smaller contribution
- Other points of interest
Tables and charts
This report includes 4 images and tables including:
- Chevron's production growth versus target, including new Permian guidance and risked contingent upside
- Evolution of Wood Mackenzie's valuation of Chevron's Permian portfolio
What's included
This report contains:
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