Insight
Strategy Update: Chevron's 2020 Security Analyst Meeting
Report summary
Chevron show-cased the durability of its upstream portfolio during its 2020 Analyst Day. New guidance was provided for overall production out to 2030. Chevron also now expects Permian tight oil production to plateau at 1.2 million boe/d out to 2040. CEO Mike Wirth confirmed Chevron’s strategy of “winning in any environment”. A more streamlined portfolio focused on advantaged positions provides both upside leverage and downside resilience. The ability of the financial framework to deliver superior cash returns to shareholders through the cycle and disciplined investment were highlighted as competitive strengths.
Table of contents
- Overview
- Our take
- Cash flow expansion to fund rising shareholder distributions
- Guiding for a decade of sustainable production
- Can the Permian sustain 1.2 mmboe/d out to 2040?
- Major capital growth projects elevated
- Approach to ESG laid out but no new emissions targets
- Other points of interest
Tables and charts
This report includes 5 images and tables including:
- WM’s base-case production forecast for Chevron
What's included
This report contains:
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